The GBPUSD is making a break below the 100 hour MA and also below a retracement level near 1.35397 to 1.3544. The break has put the sellers more in control at least in the short term. There is work to do with the rising 200 hour MA as the next target at 1.3479. Move below that level, and traders will look to the broken 50% at 1.3463.

A swing area comes in at between 1.3436 and 1.34509.

It would now take a move back above the 100 hour moving average to discourage the short term sellers. The