During Tuesday morning hours, the British Pound was trading near the upper boundary of the dominant pattern line at the 1.2762 mark.
The GBP/USD waits for a break-out which might occur during the trading session. In addition, the British Pond could break the upper boundary of the descending dominant pattern line at the 1.2800 mark to trade near the 82.20% Fibonacci retracement level.
On the other hand, the rate might get retraced by the dominant pattern line at the 1.2800 mark to push the rate to trade at the 1.2700 level during the day.
