Forex technical analysis: GBPUSD falls below MA lines
There is a break and it is to the downside.
The GBPUSD stalled at the 50% and the 100 bar MA on the 4-hour chart.
The GBPUSD stalled on the move down at the 200 hour MA and the 100 hour MA. The 38.2% was also there.
The price just broke the lower lines and we are seeing some stop selling.
The 1.2460 is the closing level from yesterday. There have been a lot of days in the GBPUSD recently where the price makes a move, only to retrace back to where it started. Is this one of those days too?