Took a peek below trend line at 1.28388. Low reached 1.2834
The GBPUSD is testing a lower trend line on the daily chart at 1.28388. The low just reached 1.2834. We trade at 1.28425. Key test today and going forward.
Drilling to the 5-minute chart below, the pair has been moving up and down all day but the NY session has seen more selling. The price fell below the 100 and 200 bar MAs and trended lower and through the earlier low. We are back above that low as the daily trend line is in play.
Earlier today, the rally off the initial low stalled at a topside trend line on the hourly chart. That line still needs to be broken to move higher going forward.
