GBPUSD breaks below its 50% midpoint

The GBPUSD has continued the move to the downside with the pair's price breaking below its 100 day moving average at 1.3536 earlier today.

On Friday the price moved down toward that key moving average line, but found early buyers. Today, the pair moved below the level in the European session and continued the run to the downside..

The swing low from January 6 has more recently been broken at 1.3489, and the price just broke below its 50% retracement 1.34603 and is testing a swing low down to 1.34523 (see yellow area and green numbered circles). Will below that level and the low for the year at 1.34299 will be targeted followed by swing low from December 29 at 1.34064.