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Forex technical analysis: GBPUSD test 100 hour MA. Holds on first test.

Discussion in 'Technical Analysis' started by ForexLive, Jan 11, 2016.

  1. ForexLive

    ForexLive Forum Member

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    More corrective (higher) in trading today. GBPUSD has traded below 100 MA since Dec 29th The GBPUSD tested the 100 hour moving average (blue line in the chart below) in trading today at the 1.46056 level. The high price for the day came at 1.46039 so far. Looking at the hourly chart below, the price bottomed in the Asia-Pacific session, and later moved above an old trendline and above some swing lows at the 1.4553 area. That level ended up holding support before the last push to the upside.

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