Support targets tested/just ahead

The GBPUSD is trying to a new session lows and in the process has dipped below a lower trend line on the hourly chart 1.28973. That is traders looking toward its 100 day moving average at 1.28825 Key area for the pair...

Support targets tested/just ahead

For the week, the price opened at the highs on Monday. After a fall into Tuesday, the price rebounded back up to a cluster of moving averages including the 100 and 200 bar moving averages on the 4 hour chart and the 100 and 200 hourly moving averages (see the cluster of blue and green lines from Wednesday's trade). Stalling the rally near those levels, gave sellers the go ahead 2 push further to the downside on Thursday and again into today (or at least the last few hours of trading).

The rubber will meet the road on the test of the 100 day moving average. The price is not traded below its 100 day moving average since October 11. A key key test