Forex technical analysis: GBPUSD MA resistance above. MA support below

Technical Analysis

Author: Greg Michalowski | gbpusd

Market trading the levels...

The GBPUSD is trading the technical levels over the last 7 or so hours. The price moved above the 100 and 20 hour MAs AND the 38.2% of the move down from the Feb 2nd high.  That break sent the price to the next targets at the 100 bar MA on the 4-hour chart AND the 50% of the same move down at 1.2522-258. The rally stalled. We are now back down testing the support MAs over the last 4-5 hours.  

Trades are trading the levels.  Sitting on support now.