GBPUSD 2016-08-16

British pound managed to hit target 1.2850-70 zone where managed to rebound today on better than expected UK inflation

market tested resistance level of the downtrend channel around 1.2990 as we see over the chart while support zone still laying at 1.3000-35 zone

as long as market holding below this zone another drop toward 1.2880-90 zone will be available

above 1.3035 market may add more advance signals toward 1.3105 and 1.3175

	Support	Resistence
Level 1	1.2920	1.3000-35
Level 2	1.2865	1.3105
Level 3	1.2795	1.3175