200 hour MA at 1.34781The corrective high in the GBPUSD just reached 1.34761. That is 2 pips short of resistance against the 200 hour MA.
That 200 hour MA was broken briefly on Friday. Earlier today it stalled before breaking lower. The fell today moved below the next target at 1.34439 but bounced. The bounce needs to stay below the 200 hour MA. So far it has.
Going forward, stay below that MA line and there will be more downside potential with 1.3400 the next target.