GBPUSD stays beneath the 100 hour MA right now. Bears keep in management.

Whereas UK merchants have a good time Boxing Day, the GBP/USD is underneath stress, falling to new session lows and increasing its decline additional away from the downward-sloping 100-hour shifting common. The pair opened the post-Christmas buying and selling day just under the 100-hour shifting common, at the moment at 1.25365, and remained beneath it through the Asian Pacific session. Because the day progressed into the U.S. session, the bearish momentum strengthened, with the value now buying and selling at 1.2509 after testing the psychological assist stage at 1.2500.

A break beneath 1.2500 would shift focus to the swing low from November 22 at 1.2487, with extra assist finally Friday’s low of 1.24739, the place the pair reversed sharply larger. On Friday, the upside was capped close to the excessive of a swing space between 1.2596 and 1.26147, with the failure to breach that zone prompting sellers to regain management and drive the pair decrease.

Trying forward, a transfer again above the 100-hour shifting common would supply patrons with a foothold and pressure sellers to rethink. Additional resistance lies at 1.25655, adopted by the falling 200-hour shifting common at 1.25987, and the aforementioned swing space as much as 1.26147. For now, the bearish bias stays intact beneath these key ranges.

This text was written by Emma Wang at www.ubaidahsan.com.



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