GBP/USD is toppy, headed back to 1.2900? - Scotiabank

Analysts at Scotiabank explained that cable looks toppish on the charts from a short-term perspective at least. 

Key Quotes:

"The hourly chart shows two failures around 1.2990 and a break under the intervening low at 1.2950 will target a drop back to the 1.2900/10 zone over the next 24 hours or so. Intraday patterns highlight the indecisive nature of trading around the 1.30 area, suggesting that market psychology is starting to shift against the pound as it shows signs of stalling under 1.30."