The center is available at 1,37921. Swing range between 1.3790 and a 200-day moving average of 1.38043
The British pound will return to the middle of the range from its highest level on 30 July. This level is 1.37921. The high price just reached 1.3790.
This high also reached the lowest level in the swing area, starting at 1.3790, and the upper resistance target at a 200-day moving average of 1.38043 (see red circles with numbers).
Yesterday, the price shifted to this swing area and did so for more than 200 days, moving for the first time after a similar break on August 18th. As on August 18, the price quickly returned to minus after a failed break.
Exceeding the 200-day moving average – and staying above it – would be a moving forward for today for the couple.
Profit adjustment today was the basis for a 100-hour moving average and a 38.2% rollover close to 1.3745.
In the Asian session, the price will move below the 100-hour moving average after successful testing on Monday and Tuesday. However, the decline could not continue after the break and the price moved back above the moving average.
Finding support buyers against this moving average of the London morning session was a hint to buyers to raise the pair higher from a technical point of view.