GBP/USD: Fresh cycle low, selling strength favored

The pair has broken to the downside in a move that should be considered a 'smart-money acceleration' as per the increase in volumes on the way down.

This type of move adds further weight to potentially see further engagement by sellers on any bounce back up.

The next projected target is found at 1.2925, where some profit-taking is more than likely, as the area intersects with a sticky level of support.