GBPUSD fell below a key swing area
The GBPUSD traded to the lowest level since early February earlier today (low reached 1.3677). Yesterday, the pair trended lower. Today, although lower, the pair has bounced off the low.
Technically, the pair fell below a key swing/retracement area between 1.3745 to 1.3758 area. That area will be key going forward. Stay below is more bearish. Move above and the sellers will be disappointed.
On the downside, the 100 day MA is down at 1.3605 area now. That is just below a swing area up to 1.36296. That area will be the next major target on more selling going forward.
PS. Another tell today, will be on the 5-minute chart. Stay below the 100 and 200 bar MAs will keep the sellers in control intraday.
