The GBP/USD has begun its move down:
- The first thing it did was take out the level of support (1.5128) which I wrote about on April 19th (10 days ago). The GBP/USD has initially moved down to 1.5125.
- Since it took out 1.5128, it has retraced as expected to a level of resistance at 1.5320. (It has currently gone as far as 1.5363)
At this point, the GBP/USD should turn around and begin moving back down again to move further down past 1.5125.
LattePIPs 