GBPUSD trades to new session lows

Technical Analysis

Author: Greg Michalowski | gbpusd

Late Europe/London selling pressure

The GBPUSD has crack to new session lows as European/London traders look toward the end of day.

Late Europe/London selling pressure

In the process, the pair has moved below the 100 hour moving average (blue line) and swing area at 1.2929-316 area, and a lower trendline at 1.2906.  The pair is currently testing a swing area at 1.29967 and then the rising 200 hour moving average at 1.28915.  A move below the 200 hour moving average will have traders looking toward the low for the week at 1.28866, and then the 50% retracement 1.28763. 

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