GBPUSD returned to the lower swing zone and broke away from the 50% midpoint at 1.27462.
The swing zone between 1.2729 and 1.2735 is a key support zone.
GBPUSD has turned lower on a day that has been down and up and down. In the fall, the price bounced back below the 50% midpoint of the uptrend from the March 1 low to the March high. This works out to 1.27462. The move down has re-entered the swing zone between 1.2729 and 1.2735. The lowest price reached 1.27309.
Buyers once again reduced the decline in the lower swing area. A move below is required to increase the bearish bias. If this is done, the 100-bar rise of the MA on the 4-hour chart will reach 1.27211.
The swing zone between 1.2729 and 1.2735 is a key support zone.
GBPUSD has turned lower on a day that has been down and up and down. In the fall, the price bounced back below the 50% midpoint of the uptrend from the March 1 low to the March high. This works out to 1.27462. The move down has re-entered the swing zone between 1.2729 and 1.2735. The lowest price reached 1.27309.
Buyers once again reduced the decline in the lower swing area. A move below is required to increase the bearish bias. If this is done, the 100-bar rise of the MA on the 4-hour chart will reach 1.27211.