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GBPUSD tests swing area. Below 200 hour MA.

November 29, 2022 by admin 0 Comments

GBPUSD tests the cluster of support targets. Below 200 H MA

The GBPUSD is inching down and in the process is below the 200 hour MA, the 50% of the move up from the November 17 low and is in the swing area between 1.19416 and 1.19543.

A move below the swing area would open another door and should see more probing to the downside. The 61.8% of the same move higher comes in at 1.1911.

Sellers are making a play. Can they now put some room between the 200 hour MA and the price?

This article was originally published by Forexlive.com. Read the original article here.