GBPUSD looks to test intraday resistance
GBPUSD has consolidated over the last 5 or so hours of trading and the consolidation has allowed the 100 bar MA on the 5 minute chart to catch up to the price. Now the market traders have a decision to make? Do they look to reestablish the trend to the downside, or do they correct above the MA line and correct further to the upside.
Given the bearish bias I would expect sellers to use the level to lean against. If the price moves above , it should lead to stop buying and further upside corrective momentum (toward 1.5710 Fibo level).









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