GBPUSD trades to new lows

Technical Analysis

Author: Greg Michalowski | gbpusd

The 1.2698 area is now eyed

The GBPUSD is getting hit and trades at the lowest level of the day.  As per the previous post, the price fell to a trend line, stalled at that level and rebounded up to to the 200 hour MA.  Sellers leaned there and have now pushed below a lower trend line and more selling is coming in.  

The 1.2698 area is a target below.  That was the low on Monday and again yesterday.  

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