Forex technical analysis: GBPUSD corrects off 50% to start the trading week

100 day MA looms above…
The GBPUSD fell sharply on Friday, breaking below the 100 day MA and swing lows from earlier in the week. Those lows stalled just ahead of that key 100 day MA (at 1.2416 area – the 100 day MA is currently at 1.2417).