100 hour MA and 100 day MA in the 1.29869 to 1.29937 area
The GBPUSD moved below its 38.2% retracement at 1.30183 (and swing area in the same area), and in the process moved down to test the next support targets defined by the 100 bar moving averages (see prior post here). Those include the 100 hour moving average at 1.29937 and the 100 day moving average at 1.29869. The low price just reached 1.29889. A move below each would open the door toward a retracement toward the 50% retracement 1.29623.
Risk for short traders looking for further downside can be moved down to the 1.30183 – 224 area. Stay below keeps the sellers more control least intraday.
