The next important level to note on the GBP/USD

Following on from the penultimate update here on the Pound, the GBP/USD has now fallen further and just a minute ago hit a fresh more than 2 month low at 1.2945. The fall to session lows comes as the EUR/USD also falls ever closer to the test of the 1.0800 handle. It has just gotten within a pip or two of doing that. So, on the assumption the GBP/USD might have some more downside potential your attention is now drawn to a pretty important longer term trend line support level. That is in place right now at 1.2913. If you care to look at a chart of the Pound since it based out at 1.2300 back in April you should be able to draw that line on the chart and you will also see it runs from another subsequent low set on August 8, at 1.2665. Do you see what I am talking about here? So, it looks like 1.2913 could be the next real level of note should this current downside move extend. The GBP/USD is now at 1.2952