The GBPUSD is trading near its lows for the day and looks to test:
- Low from last week at 1.29729
- 100-day MA at 1.2960
- 61.8% retracement at 1.2958
As the day comes to a close, those levels will be key targets in the new trading day. If broken – and stays broken – it opens the door for more downside probing with the next target at 1.2938, followed by a swing area between 1.2845 and 1.2867.
This article was written by Greg Michalowski at www.forexlive.com.
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