GBPUSD falls to new lows and tests the low for the week ...Middle East

The price has now broken below the low from earlier this week at 1.2878. The low going back to March 5 reached 1.28608. A move below the floor area, would have traders looking toward the rising 200 bar MA on the 4-hour chart at 1.2849. The 200-day MA is below that at 1.28116.

Conversely, if you are a buyer, this area is an area to buyer with a stop on a break below the 200 day MA.

This article was written by Greg Michalowski at www.forexlive.com.

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