On the updated 4h chart of GBPUSD, we can see that prices came lower last week with some aggressive decline on Friday to 1.2750-1.2800 area. Move can be impulsive, so we are considering idea of a top in place, thus more weakness may extend to much lower levels this week, especially after a wave 2 bounce. That said, any stronger rise back above 1.3012 may put bullish trend back in play.
GBPUSD, 4H
