Forex technical analysis: GBPUSD cracks 100/200 hour MA, and scoots lower

Tests 50% retracement

The GBPUSD has also made a run to the downside in the last hour of trading. The pair fell below its 100 and 200 hour MAs at 1.3853-558 and scooted lower. The fall has taken the price toward the next targets defined by the 50% midpoint of the March range at 1.38203, and some swing highs and lows at 1.38155. Look for buyers to lean on the first test.