| GBPUSD held support at an upward-sloping trendline on the hourly chart earlier today and then pushed higher, breaking above the 100-hour moving average and holding above it into the New York afternoon session. That move gives buyers something to build on in the near term. However, there is still work to be done to strengthen the bullish bias. The next upside hurdles include the 100-day moving average at 1.3395, followed by the falling 200-hour moving average at 1.3421. Beyond that, traders would need to contend with the 200-day moving average at 1.3442. In short, buyers have made progress, but clearing those resistance levels will be key to shifting the bias more firmly to the upside. |
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