The fall continues as the London/European trading day progressed toward the last few hours of trading
The GBPUSD continues it’s fall and tests the cluster of support defined by 200 hour MA, 100 bar MA on 4 hour, trend line and 50% retracement. They all come in between 1.38868 and 1.3902.
Do buyers come in after the tumble and stall the fall in this area (at least for a profit taking bounce)? So far, the dollar buying has been pretty relentless. The 50% is a final line in the sand to stay above. A move below and it could solicit even more selling. If it holds, the buyers will still need to see the price get and stay above the 1.39026 level to feel comfortable, and then the 1.39124.