The GBPUSD moves toward the lower boundary

The GBPUSD tested the 200 hour MA (green line in the chart above) and found willing sellers against the level.  The price is now back down and looking toward what is good support on the same chart at the 38.2% retracement and the underside of the trendline broken earlier today.  Also, supporting the area is the 50% of the move up from the weeks low.   That level comes in at the 1.5337 level.  So with the hourly showing support at 1.5333 and 1.5336 and the retracement at the 1.5337, look for the price to respect the level and use it to define risk.

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