Trend line on the daily comes in at 1.3778.
The GBPUSD is trading down near the lows and in the process, tested the lower trend line at 1.3778. The low reached 1.37813 so far. We trade up to 1.3788 at the moment.
The low from February (today is the last day of the month) comes in at 1.3763. That too will be a target on further weakness. A break of that level would look toward the 50% of the move up from the November low at 1.36914.
Staying on the daily chart, the fall today got a push below the double bottom at the 1.38567 level (see hourly chart below) and the 38.2% of the move up from the November low at 1.3845. Those levels are now risk levels. A closer level is the 1.37994 low from Feb 14 (see hourly chart below). The pair has a lower trend line near the daily trend line at 1.3782 currently.
