Forex Flash: GBP/USD to potentially target 1.30 in 2013 - HSBC

FXstreet.com (Barcelona) - "The long-term Elliott Wave structure in Cable is a classical fourth wave triangle that should result in an eventual downside break," HSBC's FX Team said in a research note. In their view: "It would take a rise above the 2011 high of 1.6747 to negate this pattern and so, as long as that level holds as resistance, we should anticipate a powerful downside move during 2013 towards 1.30," the team concludes.