As long as 1.2926 resistance holds on a daily closing basis, the GBPUSD remains on the downside to 1.2705. A halt is likely, but a cut would open 1.2514 level. It may test 1.2705 before attempts to break below 1.2514 level. Anyway; below 1.2514 aims 1.2360 level, further down, support comes at 1.2133 level.
Minor resistance comes at 1.2840
On the upside, resistance comes at 1.2926 level. Above that level sees recovery threats to 1.3171 where another fall is very likely…
Conclusion: The GBPUSD continues to face downside threats below 1.2926 in the medium-term forecast.
Support:1.2705, 1.2514, 1.2360
Resistance: 1.2926, 1.3171, 1.3346