GBPUSD falls to new lows as traders focus on the 38.2% of the move up from September

The GBPUSD is moving to a new low an din the process is moving further away from swing area above between 1.33308 and 1.33393.

On the downside, the 38.2% is the next key target for traders which comes in at 1.32683. Below that and the rising 100 bar MA on the 4-hour chart comes in at 1.32424.

Back in April, after the last Iran attack on Isreal, the GBPUSD moved up and down and then lower before bottoming and starting the reverse of the pair higher.

This article was written by Greg Michalowski at www.forexlive.com.