Stay above the 200 hour MA in the GBPUSD

The GBPUSD moved above its 200 hour moving average for the first time since November 22 on Friday, and closed above that moving average level. Bullish.

In trading today, the market opened just below the moving average level traded above and below that Key moving average line in the first five hours of trading, then ran out of upside steam and moved lower. Bearish.

The price dipped below its 100 hour moving average 1.32272 (blue line), but stalled near a swing low line at 1.32201.

The price has since moved back higher, and after trading above and below the 200 hour moving average for an additional three hours, the buyers are trying to take more control and pushed to new session highs.

The simple technical question is

"Can the price stay above that 200 hour moving average?" (Green line)

Stay above and more upside probing toward the high from last week at 1.32884 and the 38.2% retracement of the move down from the November 18 high at 1.32940 would be the next upside target's.

Conversely move back below and the buyers are once again disappointed on the failed break. A rotation back toward the 100 hour moving average cannot be ruled out.