Activity remains choppy…
The activity in the GBPUSD is choppy – with the most of the London session moving higher and lower. Stretching out to the hourly chart, the traders seem to be leaning against the 100 hour MA (blue line in the chart below). We are currently testing that level as I type. A move above and staying above should lead to an extension of the range with the high from yesterday as the next target to get to and through at 1.4479.
Forex technical analysis: GBPUSD bounces off the 100 hour MA today. Testing again.
