What levels are in play for GBPUSD and why through the Fed Chairman’s speech

THE GBPUSD

GBP/USD

The GBP/USD is the currency pair comprising the currency of the United Kingdom, the British pound sterling (symbol £, code GBP) and the dollar of the United States of America (symbol $, code USD). The pair rate indicates how many US dollars are needed to buy one British pound. For example, when GBP/USD is trading at 1.5000, it means that 1 pound equals 1.5 dollars. GBP/USD is the fourth most traded currency pair in the forex market, giving it abundant liquidity

The GBP/USD is the currency pair comprising the currency of the United Kingdom, the British pound sterling (symbol £, code GBP) and the dollar of the United States of America (symbol $, code USD). The pair rate indicates how many US dollars are needed to buy one British pound. For example, when GBP/USD is trading at 1.5000, it means that 1 pound equals 1.5 dollars. GBP/USD is the fourth most traded currency pair in the forex market, giving it abundant liquidity
Read this term retraced higher in trading today and in the process returned to the lower 100 hourly moving average currently at 1.2469. The sellers supported against this level and pushed the price lower and below a swing zone between 1.2435 and 1.2445. Staying below this level allows sellers to stay in control. Stay below 100 hours moving average

Moving average

A moving average is a statistical tool used to smooth short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a number of data points over a specific period of time and then plotting that average as a line on a graph. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA). In financial markets, moving averages are often used to analyze stock prices, exchange rates, etc.

A moving average is a statistical tool used to smooth short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a number of data points over a specific period of time and then plotting that average as a line on a graph. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA). In financial markets, moving averages are often used to analyze stock prices, exchange rates, etc.
Read this term at 1.24693 is a more conservative stop for sellers looking for more bearish momentum.

On the downside, there is a swing zone near 1.2386 – 1.2397. Crossing below this level into the April 21 low at 1.2366 will be targeted with April swing lows at 1.23521 and 1.2343