GBP/USD - Watch The Support Levels

The midpoint of the move down from the November 16th high comes in at the 1.6668.  The 200 hour MA comes in at the  1.6672 level. The market is currently testing this support after moving up to test target resistance at 1.6743 earlier today (highs from June 30th and Sept 11th).

Look for buyers against the level. A break has further support at the 1.6650 price where the 200 bar MA on the 5 minute chart is found (green line in the chart below).  On the topside, the 1.6698 level is an intraday hurdle to get through.  This is the 100 bar MA on the 5 minute chart (blue line in the chart below).  The last corrective move went up to the 1.6693 which puts a bearish slant on the pair.  So watch the support levels.

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