GBPUSD (1.2928): The British pound also posted modest gains, but price action fell to close bearish on the day. Still, the upside bias remains as the British pound could be seen pushing towards the 1.3032 handle where resistance could be most likely tested. In the event that GBPUSD posts a reversal, we could expect the declines to push back to the current support established at 1.2908. Therefore, GBPUSD remains range bound within these levels. A breakout off the support or resistance could suggest further continuation in the trend.
