GBPUSD trading at NY session lows

Tests 200 bar MA on 5- minute/38.2%

The GBPUSD has fallen to the 200 bar MA on the 5-minute intraday chart at 1.25584. If you put a Fibonacci on the move up from the late Friday low to the high today, that is also being tested at 1.2559. The pair stalled at this area in the London morning session.. We are trading at NY session lows.

So this is a key level intraday for traders. Hold and we bounce (risk is defined and limited). A break below should solicit more selling with 1.2542 as the next target below.

PS. it could be a Head and Shoulder formation too.

Lots of stuff at this area for traders.

PS. There is a similar look in the EURUSD.