GBPUSD (1.2963): The GBPUSD currency pair broke past the support level of the 1.3054 – 1.3028 region. The break down below the support level indicates further declines are likely on the horizon. The next main support is seen at 1.2808. In the near term, any rebound is expected to stall near the recently breached support level which could be tested for resistance. In the event that GBPUSD closes back above this level, we expect a short-term change in the trend.
