GBPUSD: The GBPUSD found willing sellers at the 200 hour MA keeping the sellers in control
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The GBPUSD is experiencing upward movement but faces resistance at the 200-hour moving average (1.3262). After briefly surpassing this level, it retreated, indicating seller dominance. The pair fell below the 100-hour MA (1.3239) but found support between 1.3217 and 1.3229. For buyers to gain control, a sustained break above both moving averages is necessary. Conversely, a drop below 1.3217 would shift momentum back to sellers, targeting lower support levels, potentially leading to a significant decline.
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