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. Read More Details
Finally We wish PressBee provided you with enough information of ( GBPUSD tests swing area. Moves away from broken 200 day MA )
Also on site :
- Petroleum Ministry activates emergency plan for natural gas supply
- Amazon Is Selling a 'Buttery Soft' $60 2-Piece Set for Just $30, and Shoppers Say It 'Feels Like Spanx Air Essentials'
- 7 Places to Visit in Barcelona for an Unforgettable First Trip, According to Nomadic Matt