The GBPUSD – like the USDJPY – is more contained in trading today. The
USDJPY is remaining within the range from yesterday’s trading, and so
has the GBPUSD (see blue box in the chart below).
Looking at the hourly chart, the high for the day has been contained by recent highs and also near the 38.2% of the move down from the December 31 high at the 1.52569 level. There is a lid there.
On the downside,the low off the announcement found buyers near the 100 and 200 hour MAs (blue and green lines). It was also just above the lows from yesterday’s trading. Traders seem to be happy with trading the range, with a break likely to lead to more momentum.
Read more Click Here / www.trade4x.net
Looking at the hourly chart, the high for the day has been contained by recent highs and also near the 38.2% of the move down from the December 31 high at the 1.52569 level. There is a lid there.
On the downside,the low off the announcement found buyers near the 100 and 200 hour MAs (blue and green lines). It was also just above the lows from yesterday’s trading. Traders seem to be happy with trading the range, with a break likely to lead to more momentum.
Read more Click Here / www.trade4x.net
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