The post crash low at 1.2087 area is the next target ahead of open road (to the downside)
The GBPUSD has ripped through support targets like a hot knife through butter. The 60 pip range seen at the start of the NY session, is now about 150 pips. The next target is the post-GBP crash low at 1.20876 and then a lower channel trend line at the 1.2082 level. A break below those levels puts trading in more open road to the downside.
Risk for shorts, will now be eyed at 1.21315-35 now. That area corresponds with the lows from Oct 13 and Oct 17.
Looking at the 1 minute chart from October 7th, the low from that day is debatable. However, the snap back action saw a low at 1.2018 before moving higher. That too may be a level to target on a break.
With Carney still ahead it is tough getting in the way of what is a freight train.