GBPUSD remains in downtrend from 1.3278. The rise from 1.3059 is likely correction of the downtrend.

Another fall could be expected after correction, and next target would be at 1.2900 area.

Key resistance is at 1.3278, only break above this level could trigger another rise towards 1.380

Editor’s Note: Equity investors/traders can use the Currency Shares British Pound Sterling Trust (FXB, quote) ETF to take positions in the yen without a FOREX account.  The ETF looks to track the price of the British Pound Sterling (GBPUSD), minus ETF fee. The fund seeks to reflect the price of the British Pound Sterling (GBPUSD) with the shares representing a cost-effective investment relative to investing in the FOREX market.

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