The GBPUSD has a bunch of key technical levels at the 1.6049-54 area.

  1. 200 hour MA (green line at 1.6054),
  2. Trend line connecting a number of lows (at 1.6054)
  3. 50% of the October trading range (at 1.6049)

The price fell below this area earlier today, but rebounded and then based off the 1.6049 level (see hourly chart). The price low just got down to 1.6058 and bounced (the horse may have left the barn). In any case, it should continue to be an area of importance going forward. So be aware….

GBPUSD has a lot of support at the 1.6049 area.

GBPUSD has a lot of support at the 1.6049 area.