Sellers are trying to make a play
The GBPUSD price has dipped back below the 200 hour MA and has now closed below that level for the 2nd consecutive hourly bar. The current bar is trading in a narrow range as the the London/European session works toward a close, but is staying below the 200 hour MA at 1.41357. Sellers are making a play. Stay below is more bearish.
The 50% of the move up from May 13 is the next target. Below that and traders will be eyeing the 1.4100 to 1.4112 area. A move below that area should open up the door for further downside momentum with 1.40758 to 1.40796 as another target swing area