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Forex technical analysis: I spy the GBPUSD traders using the 200 hour MA

Discussion in 'Technical Analysis' started by ForexLive, Apr 14, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Support becomes resistance...... Looking at the GBPUSD hourly chart, the price on Monday moved above the 200 hour MA, tested it on Tuesday, fell below it today and used it to cap the move back higher today. I spy traders using the 200 hour MA (green line in the chart below at 1.41755 currently) to define and limit risk along with the trading bias (now more bearish).

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