GBPUSD stays relatively contained. Buyers taking price back above 100 day MA


GBPUSD tries to move above its 100 day moving average

The GBPUSD traders are making a play with a move above its 100 day moving average at 1.38525. The price is currently trading at 1.35594 as I type.

The pair initially moved above that moving average level after the headline nonfarm payroll data, but quickly reversed and found support near a swing area between 1.3521 and 1.35287. Holding that level as the traders looking again toward the upside and trying to figure out if it can make a break and momentum run.

With the price now above the 100 day moving average the buyers are making a play. Can they keep that momentum going with the high from Wednesday at 1.35978 the next major target.



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