GBPUSD (1.3099): The GBPUSD currency pair closed below the 1.3132 level of support following the failure to post a new high on the rebound. The declines could send the British pound lower as price action could test the support level at 1.3054 – 1.3028. In the short term, we expect the currency pair to maintain a range within the said levels. A breakout from these levels could trigger further direction. To the downside, the next lower support at 1.2808 remains in focus, while to the upside, the price will need to break past 1.3250 resistance to post further gains.
