As London/European traders look for the exits, the GBPUSD has backed off highs and is retesting the natural support at 1.3000 as well as the underside of a broken trend line at the same level. The high price going back to July 28, 2023 is also in play at 1.2995.
WIll the buyers come in to stall the fall against the key level/area (expect stops below 1.2995)? Or will the area be broken?
If broken, we should see more downside probing on the failed break.
Key technical test for the buyers.
This article was written by Greg Michalowski at www.forexlive.com. Source