FX.co ★ Technical analysis of GBP/USD for September 30, 2016

GBP/USD started to move lower as projected in the previous analysis. The pair is poised to test the first target at 161.8% Fibs (1.2930). Consider holding short positions and moving stop loss on breakeven level near 1.3000. Targets remain the same: the fist one lies at 1.2930 breaking which will lead to 1.2855 and finally to 1.2775.

Support: 1.2980, 1.2930, 1.2855, 1.2775

Resistance: 1.3060