GBPUSD moves toward a cluster of suppport (and the 1.4000 level).

50% and the 100 bar MA on the 4-hour comes in at 1.4007-11

The GBPUSD moved to a new session low at 1.40174. In the process, the pair is getting closer to a cluster of support defined by the 50% retracement of the move up from the March low at 1.4011 and the 100 bar MA on the 4-hour at 1.40077.  That natural level at 1.4000 is also in play. 

A break below each of those levels, increases the bearish bias for the pair. 

The pair fell below the 200 hour MA and a trend line yesterday. That was a catalyst for more bearish bias since then (green line in the chart above currently at 1.41084). 

On a rebound, the close resistance comes in at the early London/European lows at 1.4035. Stay below is more bearish.  A move above will lessen some of the bearishness from the break lower.  Remember it is month/quarter end.