Now close resistance for trading
The GBPUSD has tumbled on more "dovish" chatter out of the BOE. The price fall, takes the price below the 1.2900 level, the 100 bar MA on the 4 hour chart at 1.2880, trend line support on the hourly chart connecting the post "snap election" low and the May 4th low at 1.2874 and the 50% of the move up from the post "snap election" low at the 1.28715. Close risk for traders is now the area defined by the 50% to the 100 bar MA on the 4-hour chart at 1.28715-1.28808. Shorts would want to see those levels stall any corrective move higher.