GBPUSD: New lows for the pair. What next as we head into the new trading week?

<p>The GBPUSD is trading to a new low for the day and the week, and in the process is in closer to a swing area between 1.2105 and 1.2111. </p><p>Moving below that level and the 38.2% retracement of the move up from the September 2022 low comes into focus at 1.2076 followed by the low price for the payer going back to March at 1.20362.</p><p>As we head into the new trading week, those levels would be important targets on further downside momentum. </p><p>In this video, I show the technical steps needed to increase the bearish bias. Conversely, if the sellers cannot keep the momentum going, I outline what needs to be done to put the buyers back in control.</p>

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