The GBPUSD is extending to a new low today, as bearish pressure intensifies technically. This move is significant because the pair is now trading below its 100-day moving average, currently at 1.33339. That level had acted as a temporary floor yesterday, with buyers stepping in to defend it. However, today’s price action shows a shift in sentiment, with sellers gaining more control and pushing the pair lower.
The break below the 100-day moving average tilts the technical outlook more negatively. As long as price stays below that key moving average, bearish bias remains in play. The next major downside focus is the 38.2% retracement of the 2025 move up—from the low to the high—which comes in at 1.31403.
That retracement level is further supported by a key swing area between 1.3145 and 1.3202, making it an important target and potential support zone. If sellers can drive through that region, the downside momentum could accelerate. For now, the battle lines are drawn between the 100-day MA above and a wide target of 1.3140–1.3200 below.
The FOMC will meet later today with the Fed expected to leave rates unchanged. The question is will the Fed shift to a more dovish stance ahead of what will likely be a tick up in inflation due the tariff?
This article was written by Greg Michalowski at investinglive.com.
