GBP/USD is moving towards a resistance line. Because we have seen it retrace from this level in the past, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 5 days and may test it again within the next 16 hours.
GBP/USD is approaching 1.2658. We expect either a breakout through this line, or a rebound.
