Ups and downs continue
The GBPUSD has come back off and trades negative on the day once again after a run to the upside found sellers leaning against the 38.2% retracement/200 hour MA at 1.37472.
It was the second test of the 38.2% level today. Earlier in the late Asian/early European session, the price moved to the level and backed off. The retracement level has since been joined by the falling 200 hour moving average increasing the levels importance.
The price is currently trading back at 1.3715 and near the middle of the resistance above at the 200 hour moving average last 30.2% retracement and support at the 100 hour moving average at 1.36818.
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