Also near low correction area from yesterday's trade
GBPUSD has just tested the weeks midpoint at the 1.57233. The low came in at 1.5726.
The area also corresponded with a low correction area from yesterday's trade. It was also near yesterday's initial spike higher (see yellow area in the chart above). Traders will now be watching to see if the correction off the support is able to hold 1.5745. This was swing lows from earlier today and the broken 38.2% line. Find sellers in this area, and the shorts/sellers may look for a break of support and a move toward the 100 hour MA (blue step line at 1.5702). Move above and there may be more corrective action off the low.