GBPUSD between the “goal posts”. 1.6658 and 1.6693 define the range.
We know about the 1.6668/73 level (see prior post). The 1.6650 level represents another support level to watch but so is the green line in the chart above that comes in at the 1.6658 level. This represents the 200 bar moving average and the “other” Goal Post. The blue line or 100 bar MA representing the first goal post and this level currently is at the 1.6693 level. The price is currently testing this goal post level as the market fluctuates before London goes home for the day. If the support can hold the market may look toward a test of the blue line.
The bias from the intraday basis remains down as the price is below the 100 bar MA on this chart. However the move back above the 1.6600 level today was a break higher. Watch the level for the clues.
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