GBPUSD moves to new session lows

Price stalls against intraday resistance on NA morning correction

The GBPUSD corrective move stalled at intraday resistance levels between 1.4094-1.41068 (see earlier post) and also stayed below the 1.41000 level in the process.

The price is now trading to new session lows on the combination from Brexit concerns and bearish technicals.

The price is looking toward the 1.4004-11 area. Remember that those levels correspond with the swing lows from April and June 2016. The 1.4005 is also the 38.2% of the move up from the January 2018 low (the range for the year).