Cannot stay below 200 hour MA
It is becoming a theme. Bend but don’t break.
That is what the GBPUSD has been doing on dips in trading today. There are 4 separate hourly bats that have crossed below the 200 hour MA today. Each found buyers. There is a habit forming. On the topside, a move above the 1.22816 (50% midpoint of the move down from the post-crash high) stalled the rally on the last move higher. A move above will likely lead to some further exploration to the upside in this pair.