GBPUSD (1.2653): The GBPUSD currency pair was seen edging higher on Tuesday. Price action was seen retesting the breached support level at 1.2683 where resistance is currently formed. Failure to breakout above this level could keep price action subdued. We expect the GBPUSD to maintain the range within 1.2683 and the lows of 1.2491 where support looks to have been formed. There is scope for an upside breakout given the ascending triangle pattern being formed. This would give a minimum upside target toward 1.2806.
