GBPUSD (1.2933): The British pound posted modest gains to test the 1.2950 region. The brief rally back to the unfilled gap from last week is likely to signal a decline back to the support at 1.2808. This will form a potential head and shoulders pattern. If the neckline support at 1.2808 breaks, the declines could be seen pushing the price to 1.2682 level. To the upside, if GBPUSD breaks out higher, we anticipate a test o 1.3031 marking the highs of August 30.
