GBPUSD (1.2627): The GBPUSD currency pair was seen gradually drifting higher. Price action remains subdued below the resistance level of 1.2683. A near-term rebound back to this resistance level could see the price being tested more firmly compared to the initial test at the resistance level. Further downside in the GBPUSD can be expected if price breaks past the previously established low. However, we expect some consolidation to take place that could keep the GBPUSD trading flat for the moment.
