Sellers eyeing the 100 hour MA?
The GBPUSD is stepping lower. The last break took the price below the 50% of the week's midpoint at 1.31699. The price initially bounced off that level earlier in the day, but corrected up to resistance at 1.31998 and found the sellers (see earlier post for the discussion on that resistance level).
The 50% is now a close intraday risk level now.
On more downside momentum the price would start to catch up with the rising 100 hour MA. That MA comes in at 1.31364 and moving higher. There is a swing area just above at 1.3142 to 1.3147. I would expect that patient buyers would be interested in buying against those levels.
