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GBP/USD – Sellers in control

FX:GBPUSD   British Pound / U.S. Dollar
Pair’s retreat from 1.3121 (Thursday’s high) followed by a sharp sell-off on Friday to a low of 1.2915 strongly indicates the down trend from 1.3445 (Sep 6 high) remains intact and could be extended further to 1.2865 (Aug 15 low) if the up move seen in Asia runs out of steam and is followed by a break below Asian session low of 1.2954.

On the higher side, only a daily close above 1.3121 (Sep 22 high) could signal bearish invalidation.
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