The drop to a new low satisfies the bearish expectations for the GBPUSD. The reversal occurred at a support line and there is divergence with RSI on the daily. Initial resistance is 14530. There is no trade here yet however. I do like the EURUSD higher though...from this morning's technicals - "regardless of the next larger count, I do expect additional strength towards 12620 (resistance zone is 12600-12750) based on the structure of advance from the low. The rally is an impulse (5 waves). Short term support is between 12230 and 12260."