SMA cross injuring GBP/USD

The bearish offensive in GBP/USD has resulted in a cross of the 50-period below the 200-period SMA.

The signal emerged on 4-hour charts further deteriorating the near-term GBP/USD price structure. While conservative sellers will wait for a close below recent support as a confirmation of a forthcoming lower low, more aggressive participants will expect a re-test of the crossover level to prove benevolent for continued downside.

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