GBPUSD trades above and below 100/200 hour MAs

<p>The GBPUSD is trading above and below the 100 and 200-hour MAs with the 100-hour MA at 1.26705 and the 200-hour MA at 1.27015. The sellers below the 100-hour MA took their shot. The buyers above the 200-hour MA took their shot. Both missed. THe price is currently trading between the two MAs now and waiting for the next shover</p><p>Stocks will be closing at the top of the hour. The bonds close at 2 PM ET as traders exit in the US for the 4th of July holiday. I would not look to trade if you don't have to. However, as the week progresses, the MAs will become more of the technical focus for the pair. </p>

This article was written by Greg Michalowski at www.forexlive.com.