Stretches lower as traders exit for the trading day
BOE's Haldane's comments got the ball rolling to the downside for the GBPUSD, and that momentum has continued as London traders exit for the day.
Haldane's comments pushed the price below the 100 hour MA (blue line in the chart below). The pair has continued that trend through the broken trend line and some prior lows from Tuesday.
The price has stalled at the 1.47000 level (also near the low from last Friday at 1.4698) and there has been a minor correction off that area. If the sellers are to keep the pressure on the pair, the old trend line should solicit sellers now (at 1.4747). A move above should see some back filling back toward the 100 hour MA but I would not expect the price to make it back above that level.
Sellers in control. It is up to the buyers to get the price back above the broken technical levels now.
