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GBP/USD tests technical support at 1.22

Since my last update here, noting the price point of the 21 day moving average in the GBP/USD, the pound has been testing this level a few moments ago. In fact the 21 day moving average has shifted slightly and it is in place right now at 1.2199. The low seen a few moments ago was set at 1.2200. It has just now bounced off that level and so as you can see, there appears to be some reasonable buying interest down there for the time being. The move lower in the GBP/USD is seemingly quite a grind too and has in part been delivered by fresh upside in the EUR/GBP today. The GBP/USD is currently trading at 1.2212
 

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