GBPUSD (1.2925): The British pound gradually reversed the strong gains made last week. The British pound had jumped on the news about EU and the UK making efforts to reach the Brexit deadline in October. Price action gapped lower to retest the previously established resistance level at 1.2928. Establishing support at this level could potentially pave way for a bullish turnaround. The long-term upside target is 1.3205. However, in the event that the GBPUSD slips below the support level, we could expect to see some consolidation taking place.
