The UK PM agreed to compromise on the controversial Brexit bill. Markets started to buy the pound, however, the dollar's recovery capped its gains. The speech of the BoE's governor might draw some attention later the day.
The main scenario is a decline to the 1.2800 area.
An alternative scenario assumes a recovery to the 1.3030 region.
Any move below 1.2920 could indicate additional bearishness is on the horizon. The pound might ease to 1.2800 in this case.
A convincing break through 1.2950 should pave the way for a further rally towards 1.3030.