Price moves away from broken moving average lines
The GBPUSD fell below its 100 and 200 hour moving averages earlier in the session, and was able to stay below those levels on the corrective move higher. Sellers leaned against the 200 hour moving average at 1.36956.
The subsequent fall over the last 2 hours has seen the price move down below the 38.2% retracement 1.3666. The next stop is the low from Friday's trade at 1.3656. That is where the price has moved to so far. A break below the level will have traders looking toward the 50% retracement and swing area between 1.36349 and 1.36385.
Sellers are in control.
