Do not waste many pips on a break although
The GBPUSD has been working decrease and away from the 200 day MA within the course of. That has the vendor taking management (see earlier publish).
Below the heading, “It’s laborious to catch a falling knife, however it occurs”, the pair is down testing the swing lows from Jan 23 AND the 50% of the transfer up from the Jan 15 low at 1.29412.
If there’s a trigger for pause (or some revenue taking), that could be a stage.
Having stated that, on a break beneath, the bears stay in management. Do not mess with the development.