GBPUSD makes new session low as the day winds toward the close

Technical Analysis

Author: Greg Michalowski | gbpusd

GBPUSD keeps the sellers in control

The GBPUSD is making new session lows keeping the sellers in firm control.  


From the earlier post today, the pair moved away from the 200 day MA in the NY session (at 1.2957 area). There was a modest correction in the NY session that got up to 1.2927, but that stayed below the closest risk level (from the post) at 1.2741.

The next target remains at the underside of a broken trend line at 1.2888 and thn the low from April at 1.28637.  

GBPUSD on the daily chart

Sellers remain in control. 

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