GBPUSD trying to hold the 100 hour MA support

Written September 22, 2009 at 2:32 PM EST by  

gregmike-04993

The EURGBP has moved back above resistance and traders are taking it out against the GBPUSD.  The pair has moved to test the 100 hour MA at the 1.6343 level. The low reached 1.6340. 

gregmike-04992

In the process the price is also below the 100 bar MA on the 5 minute chart at the 1.6347.  So watch the downside. 

A move back below 1.6343 should see a move down to the 1.6310/1.6317 area .

On the upside the 1.6365 is topside resistance now.

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