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Forex technical analysis: Check on the GBPUSD. It has been asleep too long

Discussion in 'Technical Analysis' started by ForexLive, Oct 7, 2015.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
    Likes Received:
    Wake up... The GBPUSD is asleep in trading today. Is it time to wake the sleeping currency pair? Technically, yesterday, the pairs price fell below the 100 hour moving average (blue line in the chart above), but found that sport against the underside of the broken trendline was a level to lean against. Today, after moving above and below the 100 hour moving average in the Asian Pacific session in early European session, the pair has been trading back above that 100 hour moving average at the 1.5159 level over the last 5 hours of trading. The problem is the 200 hour moving average (green line in the chart above) at 1.5175 has been able to keep a lid on the pair. So the baby sleeps with some tosses and turns.

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