Closed at 1.2558 yesterday
The GBPUSD is trading back toward the closing level at 1.2558. The low just reached 1.2565. A little more to go to get to unchanged.
The earlier move higher retraced about 50% of the move down from yesterday's Brexit related tumble lower. The rally stalled near that midpoint level. The price has moved below a lower trend line at the 1.2592 level. That level will be eyed as a risk level for shorts now. Stay below is more bearish.
Taking a broader look at the weekly chart below the 1.25885 level is the swing low from June 2017. The price is now below that swing level. Stay below it is also more bearish.
