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GBPUSD not left out of the squeeze party

Discussion in 'Technical Analysis' started by ForexLive, Dec 4, 2015.

  1. ForexLive

    ForexLive Forum Member

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    Broke out of the 200/100 hour MA cage For the GBPUSD it too broke and squeezed higher. The catalyst for it was the break of the 200 hour MA at the 1.5065 level. The pair squeezed up to 1.5121 - just short of the weeks high at 1.51248. I guess in relation to the EURUSD which is trading at the highest level since November 4, the GBPUSD has not even reached the high for the week. The 200 hour MA is now support/risk for buyers. The bias is a bit more bullish with a move above the 1.5125 a door opener for further gains.

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