GBPUSD has been trending down for the past few weeks and it has been testing support level at 1.3085. The next level of support will be at 1.2728 if it breaks below 1.3085, which could lead to a further decline in price towards 1.1500 or even lower levels if there are no signs of reversal soon enough.

However , some correction towards 1.3262-1.3417 is possible. So long positions are favored as long as the price remains above 1.3085 with a target around 1.3262-1.3417 .