GBPUSD (1.3105): The GBPUSD extended gains strongly off the support at 1.3054 to test the resistance level at 1.3250. As previously noted, the rebound off the resistance level pushed the GBPUSD lower on the day on Friday. The immediate support is seen at 1.3132 which failed to hold the declines. We now expect the cable to fall back to the previous support level at 1.3054 – 1.3028.
