1.2200 is now risk for shorts
The GBPUSD has made a momentum break to new day lows and away from the 1.2200 level. The 50% of the move up from the week low comes in at 1.2175. That is the next target to get to and through. Other targets come in at 1.21253 and then 1.2131-34 (see yellow area – swing lows from October 13 and October 17th). Risk for sellers, is now the 1.2200 level