GBPUSD (1.2849): The GBPUSD currency pair posted a strong rebound just a few pips shy of the lower support level at 1.2683. The rebound in price action is currently seen with a hidden bearish divergence on the Stochastics. However, with price action clearing the short term resistance level of 1.2808, we expect the declines to retest this level. A successful test of this level as support could potentially put GBPUSD on track to post a correction toward 1.3086 region.
