The GBPUSD is making new lows for the day, but the pair is certainly not behaving normally today. The market has been changing “its mind, like a girl changes clothes” (ref Katy Perry “Hot N Cold” lyrics) with the price moving up an down with a degree of regularity today(see chart above). The recent break of the low, however, is good news for the sellers/bears as it also takes the price below bear flag trend line support (see chart below at 1.5489). Is it now time to stick to the downside conviction?. 1.5471 is the next target for the pair followed by 1.5459 (low from Friday/low for the month).
