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GBPUSD stays within the hourly MA range

For the GBPUSD, the US trading session started the day by falling below the 100 hour moving average(blue line in the chart) and then extending below the 200 hour moving average(green line in the chart below). The sellers were in control. However the ISM nonmanufacturing data came in weaker than expectations and the price quickly moved higher. That rally moved all the way up back to the 100 hour moving average were sellers have once again leaned.Staying below the 100 hour moving average keeps the... Read More

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Gbpusd

Stays

Within

Hourly

Range

Forex

Posted: Jun 5 2023, 18:02

Author Name: forexlive

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