British Pound

The British Pound met some resistance around the 38% retracement area and has sold off the past few days.  Today's price action was bearish with a close back below all the moving averages (10, 20, 50 ,100).  There is potential for support and a bounce around the 1.5150-1.5190 zone.  This area has a confluence of fib support and two intersecting support trendlines.  Let's watch price action in this area.  If it blows through, then you can expect a test of the recent lows.