The GBP/USD rally has been faded. At this point we should see a continuation towards higher levels if the 1.2530 zone stays unscathed.
Bulls are fighting to regain full control and we can see that the price is still in bullish mode. The GBP/USD is supported above the middle daily BB line and we might see a continuation up. The first target is W H3 camarilla pivot 1.2633 followed by 1.2677 and 1.2726. Failure to close above W H3 camarilla might lead to another drop lower.
Many green pips,
Nenad Kerkez aka Tarantula FX