Forex

GBPUSD falls below the 50% retracement of run up from December 20 low

GBPUSD breaks beneath its 50% midpoint

The GBPUSD has continued the transfer to the draw back with the pair’s worth breaking beneath its 100 day shifting common at 1.3536 earlier right now.

On Friday the worth moved down towards that key shifting common line, however discovered early consumers. At present, the pair moved beneath the extent within the European session and continued the run to the draw back..

The swing low from January 6 has extra just lately been damaged at 1.3489, and the worth simply broke beneath its 50% retracement 1.34603 and is testing a swing low all the way down to 1.34523 (see yellow space and inexperienced numbered circles). Will beneath that stage and the low for the yr at 1.34299 shall be focused adopted by swing low from December 29 at 1.34064.

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