GBP/USD is down by over 1% on the day
Price is now contesting a break of the 100-hour MA (red line) @ 1.3075 as well as the 200-hour MA (blue line) @ 1.3084, with the 61.8 retracement level also being tested @ 1.3069.
Keep below these levels and sellers will regain near-term momentum again, potentially driving the pair back towards the 1.3000 region once again.
It has been quite the trip for the pound over the past two trading days with the drop today erasing all of the gains seen on Friday - and more.
