GBPUSD falls back below the 200  hour MA.

Tests the lows for the day

The GBPUSD remains a risky currency just because of the Brexit uncertainty.

It remains above the 100 day MA at 1.4350. The 200 day MA comes in at 1.47296. Wide but real. In between is the 200 hour MA which has been helping to define bullish and bearish

In the hourly chart above, I just included the 200 hour MA (took out the 100 hour MA). Although there has been some failures (that quickly reversed - like earlier today) but when it happens, you see the market recognize and go the other way.

Traders who are playing the short side would now like to see the price stay below the 200 hour MA. There is an hourly close below. We are 15 minutes into a new bar. Stay below and that should give the bears more confidence for the downside. Move back above and the traders are not happy.