GBPUSD can’t conquer 38.2% retracement and comes back off
The price is back between the trendlines now and down toward the 200 day MA at 1.5427.
GBPUSD approaching support at 1.5451
There is a couple of reasons for support at the 1.5451 level. One is the trendline off the lows on the hourly chart and the second is the 200 day MA at the same level off the daily chart. A break will target the lows from last week and the 1.5321 level (see chart below). Look for buyers against the level. When there are a couple reasons for a level (1.5451) to be of importance and the reasons are from different charts it provides a better level to trade against.
