GBPUSD (1.3179): The GBPUSD was seen posting a modest recovery after price action dipped off the 1.3250 resistance. The lower high being formed however could signal another leg to the downside. The support at 1.3028 is likely to be tested in the near term. As long as the support holds, we expect the reversal to eventually test 1.3250 followed by a breakout to the upside.
