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GBPUSD moves down and up and down and up and back down again

After stalling near the high from last week, the buyers have turned to seller in the GBPUSD. The price has retraced 38.2% of the move higher from the low yesterday. That low stalled near the low from February 17th.

So...this week's low stalled near the last swing low. This week's high stalled near the swing high.

What next?

If the selling can keep the pressure on below the 38.2%, the next targets include the 200 hour MA at 1.2032 and 100 hour MA at 1.20234. Earlier today,... Read More

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Gbpusd

Moves

Down

Back

Again

Forex

Posted: Feb 28 2023, 19:50

Author Name: forexlive

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