Forex technical analysis: GBPUSD moves back to 1.3000 area

Discussion in 'Technical Analysis' started by ForexLive, Sep 28, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    New highs, rejected....Ping pongs between 100 and 200 hour MAs The GBPUSD traded at the highs for the day at the 1.3031 level - taking out the London morning session high at 1.3030 in the process. A break to new highs that creates a 1 pip extension is not exactly what traders who are long look for. As a result, the price has retraced back down to the 1.2998 level in fairly short order.

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