... and fall below June 2017 low at 1.25885
As PM May and Corbyn go back and forth in Parliament, the GBPUSD has broken below a lower trend line at 1.26055 and also the June 2017 swing low at 1.25885.
We currently trade at 1.2530. There is not a whole lot of support. For traders, the sellers are in firm control. If there is a risk level, the 1.25885 is a level to stay below. If the buyers can't get the price above that level, the sellers are in firm control and the buyers are feeling the pressure.
Looking at the 5 minute chart, the 50% of just the last leg lower comes in at 1.2584 currently. That combined with the swing low going back to June 2017, is the absolute minimum that buyers would have to get above IF they are to take back any control.
