GBP/USD is moving towards a line of 1.2662 which it has tested numerous times in the past. We have seen it retrace from this position in the past, so at this stage it isn’t clear whether it will breach this price or rebound as it did before. If GBP/USD continues in its current trajectory, we may see it move towards 1.2662 within the next 5 hours.
GBP/USD is approaching 1.2662. We expect either a breakout through this line, or a rebound.
