Further Decrease in GBP/USD is Possible
Trading in the pair is on the downside for support 1.2932. Pivot points are at: (S1) 1.2970; (P) 1.2998; (R1) 1.3030.
Price moves in the pair from 1.1946 are corrective. Correction could have completed at 1.3267. Deeper decrease in the pair is possible.
Price moves from a price actions from a medium term minimum 1.1946 are corrective. Resumption of a downtrend from 1.7190 is awaited after completion of a correction. Overcoming of 1.2588 will point out resumption of a downtrend.