Forex Trading: GBP/USD Loses Steam Above 200-Hour Moving Average

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Forex Trading: GBP/USD Loses Steam Above 200-Hour Moving Average

By Greg Michalowski on April 28, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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GBP/USD lost steam above the 200 hour moving average (green line) and has moved back lower. There is intraday support approaching at the 1.4603 level however. I would expect buyers against the level with stops if the price moves below the 100 and 200 bar moving averages on the 5 minute chart at the 1.4594 to 1. 4597 level.

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