Buyers stall the fall
The GBPUSD fell - perhaps in sympathy with the EURUSD. The pair moved down to the 200 hour MA at 1.3400 and an old trend line at 1.3393. The price moved below that trend line earlier in the week and tried to stay below. Yesterday, the price moved back above on the Fed. In the early Asian session, the price retested the trend line and held support.
So buyers are trying to keep the price above that support area.
If broken, the technicals don't say "freefall". The 100 bar MA on the 4-hour chart is at 1.3386 and the 100 hour MA is at 1.33705 (see blue lines in the chart above), but it does take some of the "bull" out of the market.
So far, the dip buyers against the closest support levels are winning though.
