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GBP/USD edging closer to 200 day moving average support
The pound has now fallen closer to the 200 day moving average support level. That has remained in place today lat 1.2564. As to whether that price point acts as support is a different matter, because there could be stops in place below it right now and those might be in the process of being hunted out as I type. The low seen so far has been set at 1.2572, so as you can see it is pretty close. The move lower in the GBP/USD comes amid yet another interim rebound in the EUR/GBP, playing out at the same time, back above the 0.8550 mark. The GBP/USD is currently trading at 1.2572
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