Stays above 100 bar MA on the 4-hour chart.
The GBPUSD was lower the Asian Pacific session. There is some pressure coming from finalizing Brexit.
However, the pair has been more supported in the European/London market. The price has moved up from the 1.3033 level to the session high of 1.3121. At the high, the price extended above the 200 hour MA (currently at 1.31143), but the momentum above, just could not be sustained.
The last correction lower has found support against the 100 bar MA on the 4 hour chart at 1.3088 level. The 100 bar MA on the 5-minute chart is also at the level.
So traders seem to be settling in between support and resistance.
We are just now seeing a headline saying "UK government preparing a post Brexit housing stimulus" That is coming from Property Week (not confirmed). The GBPUSD has moved up a about 10 pips.
