Tests last weeks lows.
The GBPUSD is making new session lows and in the process is testing the low from last week at the 1.4171.
Looking at the hourly chart, the pair tested the underside of the broken trend line yesterday, and found sellers. The 200 hour MA yesterday was also a key level yesterday - and again today (green line in the chart above). Yesterday the price broke above the level and buyers jumped on board. Today, the level was broken to the downside, and the sellers took back control.
Currently, the price is breaking below the low from last week (trades 1.4163 currently). Stay below, keeps the pressure on.
Looking at the intraday 5-minute chart, the break lower has also pushed the price below the lower trend line.
Next target area below is March 26 low of 1.4106. This is also a swing high from March 3rd and was a swing low on March 4th (so resistance became support on those days. The low From March 10 (see hourly chart above) stalled at 1.4116 which was just above the 200 hour MA on that day.
