The GBPUSD is scene more downside momentum and in the process is trading to new session lows. The decline has the pair down to test the next swing area target between 1.2558 and 1.25679.
Move below that level would have traders looking toward the 38.2% retracement of the move-up from the November low. That level comes in at 1.25240.
Sellers are making a play. Can they keep the momentum going?
This article was written by Greg Michalowski at www.forexlive.com. Source