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On Thursday, GBP/USD closed below 1.3098 – the low of the long-tailed doji created on March 5 – signaling a continuation of the sell-off from the Feb. 27 high of 1.3350.  

The 5- and 10-day moving averages (MAs) have also produced a bearish crossover.  As a result, bounce, if any, could be short-lived and the pair could drop toward the psychological hurdle of 1.30 in the short-term.  

Daily chart

Trend: Bearish


       Today Last Price:  1.3093
       Today Daily change:  19  pips
       Today Daily change %:  0.15%
       Today Daily Open:  1.3074
       Daily SMA20:  1.3055
       Daily SMA50:  1.2965
       Daily SMA100:  1.2883
       Daily SMA200:  1.2988
       Previous Daily High:  1.3187
       Previous Daily Low:  1.3068
       Previous Weekly High:  1.3351
       Previous Weekly Low:  1.3051
       Previous Monthly High:  1.3351
       Previous Monthly Low:  1.2773
       Daily Fibonacci 38.2%:  1.3113
       Daily Fibonacci 61.8%:  1.3141
       Daily Pivot Point S1:  1.3032
       Daily Pivot Point S2:  1.2991
       Daily Pivot Point S3:  1.2914
       Daily Pivot Point R1:  1.3151
       Daily Pivot Point R2:  1.3228
       Daily Pivot Point R3:  1.3269