GBPUSD is retracing on a daily time frame;just completed 0.38% of it by touching 1.3000. 1.3000 also is a support on daily time frame. Righ now the pair is over extended (1.41 Fib Ext level) on H4 time frame and over sold according RSI. The candlistick patten(bullish harami) plus the reaosns given are good for a long entry till 1.3110, S.L being 1.2990.