The GBPUSD is holding above the 200 hour MA over the last 4 hours of trading, but the momentum on the break is not exactly awe inspiring. Nevertheless, those who like being long the pair can define and limit risk against the moving average level (other support below comes in at the 38.2% level at 1.6832 and the 1.6817-21 level).

The range for the pair in the NY session is 27 pips. The low bottomed against the 1.6821 level.

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