GBPUSD (1.2738): The British pound finally gave way near the support level of 1.2808 as prices slipped lower back into the major support area. We expect the declines could push the pound sterling down to the 1.2683 level of lower support. In the near term, however, price action could turn rather flat. Any reversal in price action could be seen retesting the 1.2808 level where resistance could be established.
