The GBP/USD has been trading downwards. The price tested the level of 1.2992. According to the Daily time frame, we found the downside breakout of the 2-day balance, which is a sign of the weakness and developing of a potential trend day. The level of 1.3105 remains to be the key short-term resistance. We expect GBP to test lows at 1.2895 and 1.2785.
Trading recommendation: We are short on the GBP/USD pair from 1.2995, and the protective stop is at 1.3105. Downward targets are set at the price of 1.2895 and 1.2785.
