Trend line at 1.2816
Looking at the daily chart below:
But it could not get to the 1.2800 level (yet. Low is 1.2809) which would then look to target the swing high from December and some lows from April in the 1.2772 area. We currently trade at 1.2817.
Drilling to the 4-hour chart below, the price has made some bearish moves starting with the move below trend line and the 100 bar MA the 4-hour chart at 1.29399. More recently the pair has also broken below its 200 bar MA on 4-hour at 1.28464 (more conservative risk level for shorts).
Forex technical analysis: GBPUSD peeks below trend line, but can’t reach 1.2800
