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Price action in GBPUSD indicates a possible move lower. After a brief close above the 1.3122 resistance level, the cable closed lower on Friday.
This also shows a breakdown of the rising trend line. In the short term, we might expect GBPUSD to push lower to the support area near 1.3000 level of support.
But a close below this level could suggest some more declines. The next main support area is near the 1.2750 level.
There is a possibility that GBPUSD could settle within the range of 1.3000 and 1.3122.
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