The GBPUSD for the 2nd day in a row, tried to extend above its 200 hour MA (green line) but found willing sellers . The MA comes in at 1.31636. The high yesterday reached 1.31818. Today the high reached 1.31694 and reversed back to the downside.
Two days. Two failures = not good for the pair.
The 100 hour MA comes in at 1.3127. A move below that level should increase the tilt to the downside again with a break below 1.3109 giving sellers more confidence and buyers and sellers continue to fight in this pair.
