Fell below earlier today. Back testing the MAs
The GBPUSD has moved up to test the 100 and 200 hour MAs at the 1.44688-759 area.
The pair fell below the converged MAs earlier today on the way down to test Tuesday's low. The test of the moving averages has so far held. If that is the ceiling, look for a break of the 1.4439-44 as a more bearish confirmation.
Like all markets, the action is volatile and choppy. Yellen is speaking. Stocks are still pressured (S&P down 28 or 1.55%). Oil prices are at $25.50 (the low is around $26.20).
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