GBPUSD cracks below the lower trend line

Bears taking more control.

The GBPUSD fell below the lower trend lines at 1.2890 and the earlier low (which failed on its break). Bears are making the next play to the downside. A move back above the trend line will now be eyed by traders. Failure to do that at a minimum, keeps the sellers firmly in control.

Looking at the daily chart, the price moved below the October lows earlier in the day at 1.29206. The September low is down at 1.27849 and would be a target on more weakness.