GBPUSD tests lower trend line as selling continues

Back below the 100 day MA and moving away

The GBPUSD is testing a lower trend line as selling continues in the pair. The run lower moved back below the 100 day MA at 1.25356 and is now inching below the 50% retracement of the move up from the May 22 low. That level comes in at 1.24855. The price is also testing a lower channel trend line on the hourly chart at 1.2477.