GBPUSD Technicals: GBPUSD tumbles but finds support near a familiar MA level

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GBPUSD fell below key moving averages during European hours but rebounded in the US session, testing the 200-day MA at 1.34448. Buyers intervened at this critical level, preventing a deeper decline. The 200-day MA has become a pivotal support/resistance zone, with 1.3488 acting as a short-term threshold. If GBPUSD holds above 1.3488, it could regain the 100-hour MA and shift momentum higher, while a breakdown below this level risks testing the 200-day MA again. Traders are closely monitoring these levels for directional clues.