GBPUSD falls to lowest level since July 27

Takes out the low from yesterday’s trading

The GBPUSD has been steadily moving lower over the the course of the NY session and has just moved below the low target from yesterday’s trading below 1.38022 and also below the natural support at 1.38000. The low 1.37935 so far.

Looking at the hourly chart, the pair is testing/dipping below a swing area between 1.37965 1.3802. The next key target would come in at the 50% retracement of the move up from the July 20 low. That level comes in at 1.37769.

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