GBPUSD Taking on the Fibs

The GBPUSD since breaking below the descending trend line at 1.61 has not looked back.  The pair moved down once again today and challenged the .382 fib at 1.60.  A break of this level exposes the .50 fib at 1.5904.  As long as the pair remains below the descending yearly trend line at 1.61 the path of least resistance is lower.  Resistance begins at 1.6050.

Sup      1.59

Res      1.6050

Keane Plan....Watching the price action around 1.60.

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