July 2, 2022

Forex Solution

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GBPUSD chops up and down today and trades between technical levels

1 min read

Trades below a swing area above and MAs below

The GBPUSD has been chopping up and down today (with the bias a little more up now).  However, over the last 4 or so hours, the bias has shifted a little more to the upside, but with a technical ceiling that is limiting the move. That has created an intraday bias between technical support below and technical resistance above.

Trades below a swing area above and MAs below

More specifically, the most recent swing low has found buyers against sideways/intertwining 100/200 hour MAs at 1.3890 to 1.3894.  

On the topside, a swing area between 1.3924 to 1.39314 has put a lid on that area (see the red numbered circles)  

So the battle is on as the “market” awaits the next shove (with a tilt to the upside now at least).  

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