1.5000 area finds sellers
The GBPUSD is down trading near the 1.4900 level despite what was some pretty good numbers for retail sales. The sales data shot the pair up to the 1.5000 area. The high reached 1.5005 level. The pair closed at 1.5000 after the FOMC tightened.
The move lower today has also taken the pair back below a lower trend line on the daily chart (see chart above). That level comes in at 1.4932 currently. Earlier in the month the price fell below this level on the way to the 8 month low of 1.4894. Staying below will be eyed and keep the sellers in control. Above that there is a 50 pip dividing line between 1.4950 and 1.5000 area.
Bringing it in to the 5-minute intraday chart, the pair show the up and down from the retail sales. The pair has moved back below the 100 and 200 bar MAs. Those levels come in at 1.4938 and 1.4951 respectively.
