GBPUSD moves back toward 100 hour MA
The GBPUSD is moving back toward the falling 100 hour MA at 1.20919. The pair in the late London morning/early US session skimmed against the MA level but could not gather any upside momentum.
It would take a move above that level – and stay above – to increase the bullish bias in the short term. Absent that and the downside is still the bias direction and sellers remain in control.
This article was originally published by Forexlive.com. Read the original article here.