GBPUSD makes its way to the 100 hour MA

Finds some support buyers...

The GBPUSD has been able to find it's way to the 100 hour MA and other support levels in the 1.21870-98 area (see prior post). The area is not only home to the 100 hour MA, but also swing lows/highs going back to the end of December (see chart below).

Looking at the 5 minute chart below, I talked in an earlier educational video (click here) about the support at the 200 hour MA at 1.22526. That level was busted on the Brexit headline (PM May announcement on Tuesday). Buyers turned to sellers. The pair is now testing the 100 hour MA and other swing levels.