GBPUSD pushes up to the 200 hour MA. Makes new intraday highs

GBPUSD GBPUSD tests its 200 hourly moving average at GBPUSD moved higher towards the 200 moving average at 1.2121 (see green line on the chart above). The price broke below the moving average on December 15 and has remained comfortably below that level since then. Heading to the top, investors expect a 38.2% rally from the December high. The level is 1.2165. On the downside, today the price is rising back above the 200-day moving average and falling to the 100-hour moving average. Both levels are near 1.2062. The bearish correction price stopped after 1.2072. Also, the swing range is between 1.205 1.2069.

James Rogers

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