Trades at lowest level since June 27th
The GBPUSD is making new session lows and trades at the lowest level since June 27th. The 38.2% of the 2017 trading range comes in at 1.27778 and is the next target to get to and through. The last 6 trading days has traded above and below trend line and 100 day MA (currently at 1.2878). Yesterday the pair made a move away. Today, the pair is extending that push toward the retracement level.
The swing low from July at 1.2811 is close risk now. The low yesterday reached 1.2810 and bounced modestly into the close. The high today reached 1.2833.
