Technical Analysis

GBPUSD not taking the stimulus moves well.

Lost over 100 pips over the last 20 minutes

The GBPUSD is not taking the stimulus moves well. 

The price action is volatile but the price has moved down about 114 pips from the high.   The price had been waffling around the 200 bar MA on the 5-minute chart.  A ceiling was established around 1.1750 area. The dip buyers gave up.

The fall has taken the price below the 50% of the move up today at 1.1670. The low reached 1.1629.

The price is now waffling between the 61.8% and the 50% (give or take).  

It’s Friday with two hourd to go in trading.  Anything can happen (it is triple witching too).  The same is true in the GBPUSD (and other currency pairs). The GBPUSD is not looking all that great technically.


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