First time since November 2018
The GBPUSD has moved to another new low and in the process has moved down 2% on the day. That is the 1st time since November 2018.
The price fell below the 200 day moving average at 1.27026 earlier in the day, and then the lower trend line on the 4 hour chart at 1.26347.
Looking at the daily chart below, the price is approaching the 61.8% retracement of the move up from the 2019 low price that level comes in at the 1.2552 level. A move below that level opens up the door for further downside momentum from a technical perspective
