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GBPUSD breaking below its 100/200 hour moving averages

Like the USDJPY, the Michigan consumer sentiment data and especially the 1 year inflation expectation spike (to 4.6% from 3.8%), has been a catalyst to push the USD higher, and the GBPUSD lower. IN the process a key support target at the converged 100 and 200 hour moving averages near 1.2457 has been broken (see blue and green lines on the chart above). The price has entered into a swing area between 1.2420 and 1.24447 . The low price has reached 1.2436.What next?The break of the two moving ave... Read More

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Content Topics

Gbpusd

Breaking

Below

100

200 Hour

Moving

Averages

100 200

Forex

Posted: Apr 14 2023, 14:26

Author Name: forexlive

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