{"id":1675,"date":"2021-08-09T13:10:55","date_gmt":"2021-08-09T16:10:55","guid":{"rendered":"https:\/\/wintrademarkets.com\/news\/?p=1675"},"modified":"2021-08-09T13:10:57","modified_gmt":"2021-08-09T16:10:57","slug":"gbpusd-tests-breaks-below-the-days-low-as-the-fix-approached","status":"publish","type":"post","link":"https:\/\/wintrademarkets.com\/new\/2021\/08\/09\/gbpusd-tests-breaks-below-the-days-low-as-the-fix-approached\/","title":{"rendered":"GBPUSD tests\/breaks below the day&#8217;s low as the fix approached"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Narrow&nbsp;trading ranges so far today<\/h2>\n\n\n\n<p>The GBPUSD is\u00a0breaking to a new day low as the 4 PM London fix approaches (11 AM ET). The\u00a0price is trading at 1.38464. That\u00a0as extended the trading range for the day to about 50 pips which is still well short of the 91 PIP average over the last 22 trading days (about 1 month of trading). There is room to roam.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/az705044.vo.msecnd.net\/20210809\/2021-08-09_7-56-58.jpg\" alt=\"Narrow\u00a0trading ranges so far today_\"\/><\/figure>\n\n\n\n<p>The GBPUSD has\u00a0been more reluctant to follow the dollars move higher\u00a0since the employment report.\u00a0\u00a0Having said that, the price did break below the 100\/200 hour moving averages on Friday, and the corrective move higher today did stall ahead of those moving averages. The 100 hour moving averages at 1.39029. The 200 hour moving averages at 1.39099. The high price could only reach 1.39938 today.\u00a0\u00a0Stay below those moving averages the sellers are more in control (and also\u00a0gives them more confidence).\u00a0<\/p>\n\n\n\n<p><br>What now?<\/p>\n\n\n\n<p><br>Although lower, the price of the GBPUSD still remains above the 38.2% retracement of the move higher from the July 22 low. That\u00a0retracement level comes in at 1.38255.\u00a0\u00a0Near that area\u00a0sits swing highs going back to July 26 and July 27 between 1.38287 and 1.38323.\u00a0\u00a0Move below the 1.38255 to 1.38327 area\u00a0would increase the bearish bias.\u00a0 The 38.2% is also the minimum downside retracement target if the sellers are to continue to take back more control..\u00a0\u00a0<\/p>\n\n\n\n<p>What would seller now not want to see in the short term?<br>The swing lows from August 2 and August 5 came between 1.3871 and 1.38761.\u00a0\u00a0Stay below those levels and the sellers are happy. Move above, and there\u00a0should be more upside momentum on the selling disappointment.\u00a0 <\/p>\n\n\n\n<p><em>Source:<a href=\"https:\/\/wintrademarkets.com\/\" data-type=\"URL\" data-id=\"https:\/\/wintrademarkets.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/wintrademarkets.com\/<\/a>\u00a0\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Narrow&nbsp;trading ranges so far today The GBPUSD is\u00a0breaking to a new day low as the 4 PM London fix approaches (11 AM ET). The\u00a0price is trading at 1.38464. That\u00a0as extended the trading range for the day to about 50 pips which is still well short of the 91 PIP average over the last 22 trading [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":999,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42],"tags":[],"class_list":{"0":"post-1675","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-daily-news"},"_links":{"self":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/1675","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/comments?post=1675"}],"version-history":[{"count":1,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/1675\/revisions"}],"predecessor-version":[{"id":1676,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/1675\/revisions\/1676"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/media\/999"}],"wp:attachment":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/media?parent=1675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/categories?post=1675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/tags?post=1675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}