Week low at 1.3304
The GBPUSD has just moved to new session lows and is not targeting the week's trading low at 1.33042.
The pair has been able to close below the 100 hour MA for the entire week, keeping the bearish bias in place on the hourly chart. The pair did try to get above that MA back on Tuesday but failed. Yesterday, the pair stalled against the MA on three separate bars.
Looking at the daily chart, although the 1.3304 stalled the fall earlier this week, the traders were really buying against the December 2017 lows at 1.32987. That level will be the level to get below to open up more downside potential. The 50% of the move up from the January 2017 low comes in at 1.31858 and would be the next major target on the daily chart for traders.
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