The tumble continues. Currency is down -3.2%
The GBPUSD tumble continues. The price is now fallen below the 1.1700 level to a new session low at 1.1665. That currency is down close to 3.2% on the day.
The price is trading at lowest level since 1985. Earlier today the price fell below the 2016 low at 1.1841.
Drilling down to the 5 minutes chart below, the corrective high in the New York session moved up to 1.18493. That took the price just above the 1.1841 swing low from 2016. The inability to stay above that level has led to more selling technically, The market is running now and looks toward the 1.1600 level. We currently trade at 1.1613.
