GBPUSD (1.3055): The British pound was seen weakening for two days in a row. Price action briefly touched the 1.3025 support level before posting a modest pull back by Friday’s close. We could expect a near-term rebound in prices towards 1.3177. A retest to this level will likely establish resistance following which GBPUSD could be seen falling back to the support level at 1.3025. In the event that the cable manages to close above 1.3177, then further gains will see a likely retest of the previous price level at 1.3200.
