Sterling in deeper trouble as GBP/USD tests the 200-day moving average

The average has supported the pound since May

A drop under the 1.2819 200DMA brings the August 1.2666 low into play

A steep three-day decline but momentum readings are not over sold

There is room for sterling to test the 1.2800 level

It would take a climb above the 100DMA, at 1.3000 to worry sterling bears

GBP/USD trader TGM2338

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