GBPUSD trades at new lows and threatens to run from MA level.
200 bar MA on the 4-hour chart at 1.38034
The GBPUSD moved to new session lows as London/European traders look to exit. In the process, the price has moved back below the 200 bar MA on the 4-hour chart at 1.38034. The price is trading at 1.3790 currently. The last time the GBPUSD traded below that moving average you have to go back to mid November 2017.
- The 38.2% of the move up November low comes in at 1.3845. We are trading below that level.
- Swing levels going back to mid_January comes in the 1.3818-348 range. We are trading below that area.
- The high correction in the NY session stalled between the 1.3818-45 ceiling area (yellow area in the chart above) at 1.38405.
The sellers are in control.