Forex technical analysis: GBPUSD not going anywhere today

Discussion in 'Technical Analysis' started by ForexLive, Aug 30, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
    Likes Received:
    Top holds. Bottom holds. What do the GBPUSD charts say? Looking at the intraday 5-minute chart, the price stalled at the yesterday's late high at the 1.3119. At the low, the low held against the low from yesterday's trading. Traders leaned at the both extremes. What else do we see from that chart? The 200 bar MA (green line) has seen the price move above and below the line. We are currently below both the 200 (green line) and the 100 (the blue line). Anything else? The price has not really reacted to the 100 bar MA on the 4-hour chart. That level comes in at 1.30707 currently in the chart above. Yesterday and today, the price could not sustain momentum.

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