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GBPUSD remains capped by the 100 day MA

Discussion in 'Technical Analysis' started by ForexLive, Oct 19, 2015.

  1. ForexLive

    ForexLive Forum Member

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    Can not rebreak the ceiling... Traders took one serious look above the 100 day MA today. That was a 7 pips move above. That move failed. In the NY session, traders knocked on the door, but could not break through. Selling into the London close has kept a lid on it and nearly half of the days range was retraced. The pair remains higher on the day, but is at risk of a further move lower. Keep an eye on the 100 bar MA on the 5-minute chart for close up clues now... (blue line in the chart below).

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