The GBPUSD is trading near its lows for the day and looks to test:

Low from last week at 1.29729100-day MA at 1.296061.8% retracement at 1.2958

As the day comes to a close, those levels will be key targets in the new trading day. If broken – and stays broken – it opens the door for more downside probing with the next target at 1.2938, followed by a swing area between 1.2845 and 1.2867.

This article was written by Greg Michalowski at www.forexlive.com.