Below 38.2% of move up from the June 21 low
The GBPUSD has moved below the 1.3000 level for the first times since the July 26 low at 1.2998. In the process, the price has also moved below the 38.2% of the move up from the June 21 low. That retracement comes in at 1.3008. The low yesterday came in at 1.30127. That area is now close resistance for the sellers. Stay below and more downside can be expected....
PS The EURUSD is also making a run lower... Tests teh 200 hour MA at 1.1793 currently.
