100 hour MA at 1.31975. 200 hour MA at 1.31527
The GBPUSD trades between the 100 and 200 hour MAs.
The 100 hour MA is at 1.31975. The 200 hour MA is at 1.31527. The price currently trades near the middle of those technical levels at 1.31785. The price has closed below the 100 hour MA for the last 7 trading hours and found more sellers near the MA line over the last 4 hours.
Admittedly, the 100 hour moving average has not been the best resistance. There has been peeks above the line that has failed. However, it still remains a level that would need to be broken to solicit more buying (it just has to stay broken).
The same goes true for the 200 hour moving average below. Recall from last Thursday and Friday, the price did dip below the MA line, only to fail without much momentum.
Traders are trying to figure out the next break away from these MA levels.
