GBPUSD (1.2997): The British pound briefly retested the resistance level at 1.3025. We could expect some consolidation around this level in the near term although the bias to the downside is quite clear. Support at 1.2800 is the likely target to the downside. In the event that GBPUSD rises above 1.3025, then we could expect a retracement towards 1.3117. Still, the bias is to the downside. This is likely to change only on a continuation of the rally above 1.3117.
