The GBPUSD tested the target support at the 1.6427 level earlier – reaching a low of 1.6432. The market rebounded off the level moving to a high correction level of 1.6473 – well short of the resistance at the 1.6501 level. The price is now back down testing the support. I would expect additional profit taking against the level. Further targets are 1.6367 S5.
