$GBPUSD

$GBPUSD  closed lower on Tuesday as it extends the decline off September's high. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. 

Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the aforementioned decline, the 38% retracement level of the June-September rally crossing at 1.5933 is the next downside target. Closes above the 20-day moving average crossing at 1.6161 would confirm that a short-term low has been posted. 

First resistance is the 10-day moving average crossing at 1.6118. 

Second resistance is the 20-day moving average crossing at 1.6161. 

First support is today's low crossing at 1.5972. 

Second support is the 38% retracement level of the June-September rally crossing at 1.5933.