GBPUSD reaches the 100 hour MA after breaking below 1.2500. Finds some buyers. | Forexlive

The GBPUSD has support near the 38.2% at 1.2495 and the natural support at 1.2500. The price moved below that target in the late US morning session as traders reacted to the better US data, and stretched down to the 100 hour MA (and below), but selling stalled and the price has returned toward 1.2500.

Last week on Thursday and Friday, the price moved up and down, but each of the falls bottomed just ahead of the rising 200 hour MA (green line). If the 100 hour MA is broken, the price will look toward the rising MA level currently at 1.24626.

Conversely move back above 1.2500 now and the dip buyers off the 100 hour MA would breathe easier (with more work to do), but absent that, and the sellers are still more in control with the chance for a retest of the 200 hour MA increasing.