Price falls below the 38.2% retracement of the move up from yesterday
The GBPUSD has continued the corrective move to the downside and in the process is fall below the 38.2% retracement of the move up from yesterday's load to the high. That level comes in at 1.33365. The low price is extended to 1.3311.
The 50% retracement of that same move higher comes in at 1.32817. That would be another target on the downside should selling continue.
Looking at the weekly chart, there are other swing highs that may give sellers cause for pause. The September 2018 high price reached 1.3298. That is close to the natural support at 1.3300.
