GBPUSD breaks out of bear flag

FX:GBPUSD   British Pound / U.S. Dollar
The pound smashed through channel support overnight and sellers will be looking to drive the pair lower to the next support zone and multi-decade lows beyond there. Initial target is the support zone between 1.3120 and 1.3070, with a break below there targeting rising trend support above 1.2930. Expect fierce selling on any intraday strength. Breach of the upper bound of the former support zone at 1.3260 would invalidate.
Correction: *Breach of the upper bound of the former support zone at 1.3290 would invalidate.
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