BOE throws the kitchen sink at Brexit fears

The BOE cut rates and added QE as well. The GBPUSD initially held support against both the 100 bar MA on the 4-hour chart and the 200 hour mA at the 1.3203-10 area. It is now below both those levels and they will be eyed as resistance.

As far as targets, the 50% of the post BRexit day range at 1.31617 is being tested. The next big level is the 1.30467-74. This is where there are a number of lows and highs (see chart below). That level should attract buyers if tested (it is still a ways away admittedly). Closer targets would be recent lows including the low from last Friday at 1.3146 and Thursday at 1.3116. The low price for the day has reached 1.3154 so far.