GBPUSD plummets below 200-day moving average, expect bearish trend to continue ...Middle East

The GBPUSD ran higher yesterday, and in the process extended toward its 100-day moving average near 1.2512. The high price got within 7 pips of that level at 1.2505 before rotating back to the downside.In trading today, lower-than-expected CPI data out of the UK sent the price lower and that was helped by increased buying in the US dollar today. US yields have moved higher helping the move to the upside in the greenback (lower GBPUSD). Technically, the price fell back below the broken 38.2% retracement of the move down from the July high at 1.24582. The price then fell below a swing area between 1.2433 and 1.2449. Finally, the price also moved below its 200-day moving average at 1.2439.The p

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