GBPUSD’s latest decline attempts to break and stay below the 200 hourly MA again

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GBPUSD's latest decline attempts to break and stay below the 200 hourly MA again
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GBPUSD is trading above and below the 200 hourly moving average

Focusing on the hourly chart above, the pair is back below the 200 hourly MA and is currently trading at 1.1109.

GBPUSD tested the broken 38.2% retracement and the former trendline

Last week, GPBUSD closed at 1.1183. This week’s high price stalled just before the 1.1500 level before reversing lower over the past few days. Current prices have moved lower over the week, but still well above last week’s low which hit 1.0353.

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