The GBPUSD has moved to a new session loan in the process is testing the Friday low near the 1.2760 level. The low price has reached 1.27552.
The low price also entered into a swing area between 1.2738 and 1.2759. On Friday, the traders leaned against the area and pushed the price back to the upside. If that is to be the case today, getting back above the 61.8% retracement of the move up from the end of June low at 1.2801 would be needed to give buyers more confidence. Be aware.
On the downside, getting below the 1.2738 level would open the door for another target area between 1.2681 and 1.2698.
Watch the above video to get the full technical picture for the pair.
This article was written by Greg Michalowski at www.forexlive.com. Source