GBPUSD falls to a new session lows and tests 50% retracement level
The GBPUSD as a broken through the floor going back to Friday's trade near 1.3655 and as a saint more selling to a new low for the day. The pair is a down testing the 50% retracement 1.36385. Back on Thursday, the price fell below the 50% level, but reestablish support on the failed break (the low reached down toward 1.3630 on Friday).
Going forward now, the 1.3655 area will now act as resistance. Get below the 50% retracement and traders will look toward 1.36296, then the low from January 20 at 1.36224, and finally the lowest from January 26 near the 61.8% retracement at 1.36103.
