GBPUSD looking to push around 1.3250/60 mark ?

GBPUSD has dropped from 1.3500 handle through 1.2920 levels, taking out a major support at 1.3050. Bears have clearly registered themselves carving a potential Wave 1 around 1.2900 handle today. Ideally, we should see a counter trend rally unfold from here towards 1.3250/60 levels, which is also the fibonacci 0.618 retracement of the earlier drop. Also note that back side of support trend line is also seen around 1.3260/70. GBPUSD should be underway to carve potential Wave 2 from here.

Remain short, add further @ 1.3260, stop @ 1.3500, target is open


Good luck!