After the Cable had made a Clean High at 1.3069 and continued with a Re-Distribution on the 60-minute Chart/1 Hour Chart, the currency pair proved its weakness. In the other words, there is an institutionally sponsored decline on the 1-hour chart. Under such market conditions, the GBP/USD pair can try again to reach the target at 1.2893, if it does not go up and closes above 1.2950. The Cable is still trying to reach the target at 1.2893.
(Disclaimer)
