GBPUSD - Technical Analysis: Wednesday, 09/08/2017 04:36 GMT

The GBPUSD pair managed to break 1.3000 level and settles below it, to support the continuation of the correctional bearish wave that its next target located at 1.2930, as the price falls under continuous negative pressure after breaking the ascending channel's support line that appears on the chart below.

Thus, the bearish trend will remain expected in the coming period, noting that surpassing 1.3108 will stop the current decline and lead the price to return to the bullish trend again.