GBPUSD (1.2955): The British pound managed to push higher, but the currency pair eased back after briefly rising to a 14-day high. Further upside gains can be expected as GBPUSD approaches the previously broken support level at 1.3033. A retest of this level as resistance will confirm the downside bias. This will also potentially mark the right shoulder formation in the chart pattern, setting the stage for a decline back to the neckline support at 1.2847. A breakdown below this neckline support will signal a move towards 1.2628.
