Dec 8 low stalls the fall. 200 hour MA stalls the rally.
Like some of the other pairs, the GBPUSD has moved up and down since the FOMC decision to raise rates by 25 basis points. On the downside, the low price from December 8 stalled the fall and on the topside, the 200 hour moving average (green line in the chart below) stalled the rally. The midpoint of that range comes in at 1.5026, and that is about where the current price trading.
Forex technical analysis: What’s going on with the GBPUSD post FOMC hike?
