GBP/USD breaks below key MAs as sellers target 1.3514 support
GBP/USD has declined to session lows near 1.3530, breaking decisively below both the 100-hour and 200-hour moving averages after failing to sustain gains above 1.3567. The bearish momentum shift follows earlier rejection at the 100-hour MA, giving sellers control of near-term price action. The pair is now approaching the critical Friday low at 1.3514, which represents the next major support level. A break below this level could accelerate losses toward 1.3480 and potentially 1.3450. Technical indicators suggest increasing bearish pressure, with the moving average crossover confirming the negative bias. Traders are positioning defensively ahead of tomorrow's Federal Reserve decision, which could further impact sterling's trajectory. The failure to hold above key technical levels signals weakening bullish conviction, with sellers likely to target stops below 1.3514.
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