Taking a look below the MA line
The GBPUSD is taking a look below the 200 day MA as Fed's Kocherlakota and Meister sprayed headlines across the newswires. Yesterday, the pair tested the key MA (see green step line on the hourly chart below marked D1 MA:200). Today in the London morning session, it too tested and held. Now the pair is dipping below. .
The shorts have a chance to exert more pressure. They are in control. The risk is a move back above the MA level (watch 1.5372). Looking for further momentum.
The next target comes in at the 1.5329 which is the low from July
