It’s not looking good for the pound
We can’t say the signs weren’t there about the 1.30 level. The slow crawl up from the test yesterday, the quick return back today. 1.30 put up still support over the last couple of hours but it’s now gone in a rush. We’ve already seen resistance coming in at 1.2990, and now at 1.2980.
GBPUSD could be in trouble if it stays below 1.3000 – The big area to watch is at 1.2860/75
