GBPUSD stays confined. Traders wait for the break.  Vote starting now.

GBPUSD stays confined. Traders wait for the break. Vote starting now.

100 day MA above and the 100 hour MA below

As the clock ticked to the no-confidence vote and the debate went on (great TV), traders in the GBPUSD have kept the price between the 100 day MA above at 1.28918 and the 100 hour MA below at 1.28325. 

ON a move lower on the results, a break below the 100 hour MA would next target the 200 hour MA at 1.2791.  On a move below those levels, the technical story starts to weaken with 1.27067 to 1.27159 and then 1.26914 (the 50% of the 2019 range) as the next levels to get to and through.  

ON the topside, a move above the 100 day MA and the pair will be looking toward the trendline on the daily chart at 1.3047. The 200 day MA is at 1.3112.  

ForexLive

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