The GBPUSD sellers are making a play below the 200 hour MA (green line in chart below) in early US trading today.
The question is, “Can they keep that momentum going to the downside?” A swing area down to 1.2386 is the next target that if broken would give sellers more comfort/control, and increase the 200 hour MA as a risk defining level.
GBPUSD falls below 200 hour MA