The GBP/USD Has Formed Temporary Low

Trading in the pair is neutral, as a temporary minimum was formed at 1.3026. Following pivot points include: (S1) 1.3083; (P) 1.3134; (R1) 1.3192.

Overcoming of 1.3291 will suggest completion of the pull back from 1.3651 and trading will back to the upside. Trading below 1.3026 will target key support level 1.2773.

Breach of key support 1.2773 will argue completion of a recoil from 1.1946. Corrective growth from 1.1946 to 1.3651 will suggest that long term down trend is completed. Trend reversal in the pair is possible.