GBP/USD Breaks Through 100-Day Moving Average

The GBP/USD has broken through the key 100 day MA at the 1.4536 level (see previous posts).  The pair moved to a low of 1.4499 on the break and has rebounded back up to the key level (1.4535 high).   If the price is able to maintain the price below the level, the chance exists for increased momentum to the downside.

A move back above the key MA level will keep the longer term bias to the upside and should prompt a test of the 1.4580 shorter term resistance level where the 100 bar MA is located (blue line in chart above) and remembered corrective highs are located (see chart above).  Watch the price action and momentum under the 1.4536 level.  Like the EUR/USD 100 day MA, this is a key level for GBP/USD traders.

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