GBPUSD sellers push price below rising
The GBPUSD moved higher yesterday, reaching its highest level since July 18, 2023, with a peak at 1.3043 before slowing. This move pushed the price above the July 28 high of 1.2995 and the psychological resistance at 1.3000. Today, however, the price has rotated lower, falling back below both the 1.3000 and 1.2995 levels, indicating a weakening in the bulls' control.
Recently, the price broke below the rising 100-hour MA (currently at 1.29819). Previously, on July 9 and July 10, the price dipped below this MA but quickly rebounded. The key question today is whether the price can stay below this MA for a longer period and continue to decline.
Recently, the price broke below the rising 100-hour MA (currently at 1.29819). Previously, on July 9 and July 10, the price dipped below this MA but quickly rebounded. The key question today is whether the price can stay below this MA for a longer period and continue to decline.
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