Outlook on GBPUSD: Bullish play seen

On the daily time frame, prices broke above a key resistance area signalling bullish order flow, with bullish divergence seen on the RSI. On the H2 time frame, a throwback to the support area at 1.2480, which coincides with the graphical support area, ascending trend line, 38.2% Fibonacci retracement, 1.272% and 78.6% Fibonacci extension presents an opportunity to play the bounce, with 1.2650 as the resistance target. RSI is seeing room for more upside before it reaches it’s the overbought region as well.