GBPUSD (1.3022): The British pound extended declines sharply yesterday as price action fell to test the lower support at 1.3054 – 1.3028. If the support fails to hold the declines, we anticipate further falls in GBPUSD to push price lower to 1.2808. To the upside, the GBPUSD could be seen attempting to bounce off the current support level. The gains could be limited to 1.3132 level where resistance could be established.
