$GBPUSD was lower overnight as it extends Monday's breakout below August's uptrend line.
Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends Monday's decline, the 38% retracement level of the June-September rally crossing at 1.5959 is the next downside target. Closes above last Friday's high crossing at 1.6213 would confirm that a short-term low has been posted.
First resistance is last Friday's high crossing at 1.6213.
Second resistance is September's high crossing at 1.6304.
First support is the overnight low crossing at 1.5997.
Second support is the 38% retracement level of the June-September rally crossing at 1.5959.
