GBP/USD failed to sustain the recent break under the 1.2959 Fibo

1.2959 Fibo is a 61.8% retrace of the 1.2666 to 1.3434 (Aug to Sept) rise

A bear trap is set when a market breaks below a tech level but then reverses

That has unmasked the October 18 1.3070 high for an eventual probe

The expectations are that near-term setbacks will likely be limited

GBP/USD Trader TGM2338. Previous update nL1N3M50GC