GBPUSD broke below 1.9599 key support and reached as low as 1.9502. Deeper decline to retest 1.9337 (Jan 22 low) long term key support is now in favor. Initial resistance is at 1.9772, as long as this resistance holds, down trend will continue.
http://blog.forexcycle.com/759/daily...is-may-8-2008/