The GBPUSD has moved lower after breaking below its 200-day MA and 38.2% retracement at 1.2812 and 1.2784 respectively.
The fall below those technical levels has taken the price to a new low going back to March 4 at 1.2710. That move also took the the price below a swing area near 1.2718 (see red numbered circles), but the price has bounced higher.
A move back below 1.2718 with momentum would have traders looking toward the 50% midpoint of the 2025 trading range. That level comes in at 1.26536 and below that, the 100-day moving average at 1.26291.
For sellers looking for more downside momentum, it would now take a move back above the broken 38.2% retracement and 200-day moving average to hurt the bearish bias.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about gbpusd tests swing area moves away from broken 200 day ma was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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