The Bank of England moved one step closer to a rate cut after a weak inflation data. The lack of progress on Brexit plays against the pound as well.
The main scenario assumes a new leg higher through 1.3050.
An alternative scenario is a decline to the 1.3000 level.
The pound is at risk of growing to 1.3080 after a break through 1.3050.
A break below the 1.3050-1.3040 region will show room for further downside to 1.3000.