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GBPUSD falls below its group of moving average levels

 | Local Business News

GBPUSD falls below its group of moving average levels

| Business News Today | Today Headlines


The price falls back below its 100-day SMA, 200-hour SMA, and now 100-hour MA.

GBPUSD in the London morning session broke below its 100-day moving average and 200-hour moving average near the 1.3778 area and moved lower to test its 100-hour moving average at 1.37659.

The pair found support near its 100 hourly moving average (blue line) at first glance and rallied towards the highs.

However, the first US session has seen a downside rotation with the full set of moving averages (including the lower 100 hourly MA, the blue line) breaking. Sellers are making a move. They are in control.

Traders will now use the moving averages as resistance as the technical bias has shifted lower.

Overall, the USD is trending upward in US trading, the dollar is now the strongest of the major currencies.

GBPUSD falls below its group of moving average levels

 | Local Business News

American returns are higher across the board.

GBPUSD falls below its group of moving average levels

 | Local Business News

Meanwhile, US stocks are moving lower with Amazon stocks in pre-market trading now down -4.4% (- $ 151 on the day).


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cnbctv18-forexlive-benzinga -Sp

GBPUSD falls below its group of moving average levels

| Today Headlines Fox news

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