GBPUSD moves down to test its rising 100 bar moving average on 4-hour chart

The GBPUSD downside has continued with the price breaking below its 38.2% retracement of the September trading range at 1.3268 and has move down to test the rising 100 bar moving average on a 4-hour chart at 1.3243. The low price just reached 1.3244.For the EURUSD, the price is falling below a swing area between 1.1064 and 1.1068. It would take a move back above that area to disappoint sellers.

This article was written by Greg Michalowski at www.forexlive.com.