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GBP/USD takes out 1.29 and here is the next technical level
Since the last update here, noting the potential for the GBP/USD to fall below the 1.2900 handle, the Pound has now made that move. The GBP/USD has fallen to a low so far at 1.2888. The nearest potential support level identified just now would be a Fibonacci correction level, at 1.2879. That price point represents a 38.2% correction of the move up, from 1.2613 low, to the most recent high at 1.3044. Beyond that comes the 50% level, at 1.2829. The 21 day moving average is in place right just below that, at 1.2820. The GBP/USD is currently trading at 1.2891
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