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GBPUSD tumbles. Falls to new session lows.


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Price moves toward lower trend line at 1.2836

The GBPUSD has tumbled lower and trades at the lowest level since September 5th (that will be the case until 1.2786 by the way – so really nothing new there). 

In the process, the pair is getting closer to a lower trend line on the 4-hour chart above at 1.2836. The low just reached 1.2844.  A move below that level really has the pair looking toward the 1.27865-98 area where the last swing levels going back to August 24 and September 5th area found (see yellow area in the chart above). 
Testing trend line now.  

ForexLive

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