GBPUSD lower but has to get below the 200 hour MA

Technical Analysis

Author: Greg Michalowski | gbpusd

200 hour MA at 1.32106 for the GBPUSD

The GBPUSD prices lower and trading near the lows for the day, but the price action has been down and up and back down again.  So there is some chop in what is a lower tilt.

200 hour MA at 1.32106 for the GBPUSD
Technically, the price has tested its 200 hour moving average (green line) currently at 1.32106. There is a swing area near that moving average line between 1.3208 and 1.32136. Both the moving average in the swing area being tested at the moment. A move below would tilt the bias more to the downside. The lows from Tuesday at 1.31923, and the low from Monday at 1.31647. Would be targets on more downside momentum.

For sellers, if the price can stay below the 100 hour moving average at 1.32285, that would be the most bearish. 

UPDATE. There is a report that he used Barney a and suspended negotiations for short period, as one Brexit negotiator test positive for Covid 19. That has sent the GBPUSD below the 200 hour MA and toward the low from Tuesday at 1.31923.  
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