GBP/USD Weekly and Daily chartsThe start of the new Quarter and Trading month, and Yesterday's trading has pushed the April 50% level down to 1.9885.
Whilst price is below this level, price pushing down into the Weekly .618 lows @ 1.9694
Above 1.9885 and it's moving back towards the Weekly 50% level.
At this stage Price is trading below every timeframe 50% level
Note:- the Weekly timeframe still remains trading in the previous Quarter and won't be confirmed until the end of this week.
GBP intra-day
It looks like GBP is pusing down into the 3-day lows again on Tuesday.
An UP move will obviously rise up from the April 50% levels, but intra-day trend is going to be defined by the RISK level on any higher moves, whilst the support levels are only factoring 43 pips moves.
So around 1.9756 expectation support will play out and rise 1-2 43 pips, but above the risk level will confirm that price is moving back up into the Weekly 50% level.
