The GBPUSD pair has spent the last hour or so below the 1.6317 level. The price has also fallen below the close at the 1.6283 level now and the trendline on the daily chart at the 1.6285 area. These will be a key levels to watch today on the close. The low for the day remains at the 1.6261. The low for NY is 1.6266. Watch these levels too. A break could lead to another scoot lower.
The market is still open to sharp moves up and down. However, the move back below the 1.6317 level, back below the trendline on the daily chart and closing level from yesterday will keep the bears in the game.
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