GBP/USD: Attempts to reverse the current downtrend at 1.29520
The British Pound managed to bounce back at 1.28865 against the U.S. dollar in the 60 minutes chart from its recent pullback from 1.32000 and could reverse the current downtrend if it breaks and hold above 1.29520.
The pair had two failed attempts in the past and attempted to break the cycle from the time of writing.
We could be looking at a short term target at 1.30815 if it breaks the resistance level at 1.29520
