GBPUSD (1.2866): The British pound attempted to test the previous highs but failed to do so. The currency pair turned bearish as it attempts to breakout from the falling price channel. As long as price action remains supported above 1.2808, the GBPUSD is expected to maintain the bullish outlook. A close above the previous high could suggest further gains in the GBPUSD targeting 1.3205. To the downside, below 1.2808 support, GBPUSD could extend the declines to 1.2740.
