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GBP/USD – Watch for rejection at 1.3054

FX_IDC:GBPUSD   POUND STERLING / US DOLLAR
Despite staging a rebound from the low of 1.2994 in Asia, the subsequent exhaustion near 1.3054 (23.6% of 1.3248-1.2994) suggests increased likelihood of a break below 1.3029 and a revisit to 1.2994 (Asian session low) – 1.1.2956 (Aug 9 low).

Upticks are likely to be met with fresh offers unless prices see a day end close above 1. 3121             .
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