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GBPUSD Intraday Analysis

GBPUSD (1.3080): The GBPUSD currency pair gave up the gains sharply on Friday. However, as expected, a retest of the recently breached double top pattern signals further upside. If price manages to rebound near 1.3036 to form support, we could expect to see further gains pushing the cable toward 1.3205 resistance from July 26th highs. To the downside, a break down below 1.3036 could indicate price action settling back into the range. The lower support remains at 1.2808.

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