Trade: SELLING GBP/USD
Entry: @ $1.5030 (a pullback rally to the old support turned resistance at $1.5032)
Target: $1.4810 (the key July 2013 low)
Stop: $1.5110 (above the resistance c. $1.5080 of the lows of 21st Jan)
Reason: The breakdown of the key trading range should now ensure the next leg moves lower towards a test of the key July 2013 low at $1.4810. I would be looking to sell an oversold technical rally today.