The GBPUSD is trading at new NY and London session lows and ventured below the 200 hour MA (green line in the chart above at 1.6674). The price is also below the midpoint of the days trading range at the 1.66778 level (see 5 minute chart below). The close from yesterday is the next target to get below at the 1.6665 level (see chart below). A move below this level today is needed to keep the steps to the downside progressing. Like other currency pairs the GBPUSD is trading with a lack of trust for the directional bias. The move to the upside today, has switched course with the move lower. So traders need to be ... (full story)