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Forex technical analysis: GBPUSD bounces off technical support

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

  1. ForexLive

    ForexLive Forum Member

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    MAs and retracemene stall the fall The GBPUSD has traded with a floor under it's feet over the last 5 hours. The 100 hour MA (blue line at 1.5054) and 38.2% retracement (at 1.50577) of the move up from the December 2 low, are providing the support. I guess the 200 hour MA (green line at 1.5064) is in the "support mix" as well.

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