The GBPUSD is trading to a new low for the day and new low for the week.

The price has now broken below the low from earlier this week at 1.2878. The low going back to March 5 reached 1.28608. A move below the floor area, would have traders looking toward the rising 200 bar MA on the 4-hour chart at 1.2849. The 200-day MA is below that at 1.28116.

Moves below the levels increases the bearish bias.

Conversely, if you are a buyer, this area should be an area of interest with a stop on a break below the 200 day MA.