Main Scenario: As long as GBPUSD stays below 1.2943, the main trend will be still downwards on h4 chart. Then the pair may go down to 1.2823 price level
Target Expectation: 1.2823- 1.2782
Considerations Supporting The Scenario: Sterling erased earlier gains against the dollar on Tuesday after Bank of England Governor Andrew Bailey warned the economic recovery may not be as strong going forward and did not entirely rule out using sub-zero interest rates if needed.
Alternative Scenario: An alternative expectation may be taken into account in case of a close above 1.2823
Alternative Target Expectation: 1.2943