GBPUSD (1.2631): The GBPUSD currency pair attempted to retest the breached support area of 1.2683 briefly before turning flat. We expect the cable to retest this level more firmly. Failure to break out above 1.2683 could potentially keep price action subdued. However, we expect the declines to be limited for the moment as the bias to the upside builds up. To the downside, GBPUSD will need to break past the previously established lows near 1.2470 to post further declines.
