The GBPUSD is moving to new lows and in the process is chipping away at the November lows. The next downside targets will look toward the swing lows from NOvember 26 at 1.2506 and then the low from November 22 at 1.24865.
Moving below those levels will take the pair to the lowest level from May and open the door to new lows for the pair.
The 61.8% of the move up from the 2023 low comes in at 1.2423.
This article was written by Greg Michalowski at www.forexlive.com.
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