GBPUSD moves to back down on the day

Moves away from 200 hour MA but....

I have been talking about the 200 hour MA all day (currently at 1.2991). The price test the MA line on 4 separate occasions and bounced each time.   

The FOMC meeting minute headlines pushed the price below the level initially - - that was for seconds -and then higher - that for more than seconds. The price move to new highs for the day but fell short of what is a triple top at the 1.3095 area. The 100 bar MA on the 4-hour chart is at 1.3098.  The high price printed 1.30846 - close but not so close.

The price has corrected back below the prior highs and sits around - moving below as I type - the closing level from yesterday at 1.30437.  The 50% of the move up comes in at 1.30288. The 200 bar MA that held the topside for most of the NY session comes in at 1.30213.  

Is there anything here?

No folks.

The UK retail sales will come out at 4:30 AM ET/0830 GMT tomorrow. That release is for July - post Brexit.  It will have a greater impact and be more important for this pair.  The GBPUSD fell from 1.5000 to 1.2800 on the Brexit. That is a pretty healthy slashing.  The pair sits close to the bottom and close to the 1.3000 level.  Does the pair create more value below 1.3000 on a weak number tomorrow on it's way to 1.2500, or does the pair rebound (a rebound to 1.3500 is not out of the question). 

The expectations is for a gain of 0.1% (vs -0.9% last month) with Ex auto fuel at +0.3% (also after -0.9% last month).   Between now and then, the pair may just make the 100 bar MA on the 4 hour chart at 1.3098 as a topside level and the 100 hour MA on the downside at 1.2991 as the extremes.  Then let the data decide.