GBPUSD maintains a minor top below 1.2950, after its rejection from key resistance at 1.2920s. We think the risk is beginning to shift lower, warning an eventual move below 1.28. Below here and then 1.2750 would suggest a more sustained short-term bear trend can emerge, with support is seen at 1.2650 and 1.2580.
Resistance remains seen at 1.2920 initially, then 1.30 which we look to ideally cap. Above can reinforce a bullish wave, with resistance seen next at 1.3180, then 1.3250.
