The GBPUSD is traded to a new session low. The price just reached 1.38425. That is below thee earlier low at 1.3845.
Even so, the range for the day is still only 51 pips. The 22-day average is around 90 pips (for a month of trading). There is room to roam. Sellers are making a play.
The next key target area comes in between 1.38255 and 1.38327. The 38.2% retracement is at 1.38255. Getting below that retracement level is required if the sellers are to take more control
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