Traders stall the fall at the level on the first look
The GBPUSD has pushed down further in the early NY trading, falling below the 1.2200 level and triggering stops. The lower channel trend line is trying to hold support at the 1.2267 level. A break below and traders will be looking for the 1.2134 area where the Oct 13 (at 1.2131) and Oct 17 lows (at 1.2134) are near.