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Home Technical Analysis Foreign exchange Information GBPUSD Corrects Larger Towards The Falling 100 Hour MA And Swing Space. | Forexlive

Foreign exchange Information GBPUSD Corrects Larger Towards The Falling 100 Hour MA And Swing Space. | Forexlive

by Lou ROMEO
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forex-news-gbpusd-corrects-higher-toward-the-falling-100-hour-ma-and-swing-area.-|-forexlive

Greg Michalowski - WatanNews

GBPUSD runs up towards the 100 hour MA

The GBPUSD spiked greater on the weaker US information (the USD is the weakest of the key currencies).

The run to the upside noticed the pair transfer as much as a excessive of 1.1877. That acquired inside sniffing distance of the falling 100 hour MA (blue line) at 1.1886, and likewise a swing space (from the swing low of July 21) at 1.1890. It should take a transfer above every to swing the bias extra to the upside. The worth is at the moment making a run again towards the highs and people key technical targets on the topside. On a break above, merchants will eye the 1.19158 to 1.19242 swing space, together with the 38.2% retracement of the transfer down from the August 11 excessive at 1.1930.

Drilling all the way down to the 5 minute chart beneath, the correction off the preliminary excessive got here down towards the 38.2% retracement of the development transfer greater off the latest intraday low. Discovering help between the 38.2% – 50% “correction zone” (yellow space within the chart beneath), retains the patrons in additional management.

GBPUSD retraces into the Correction Zone space and bounces

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