GBP/USD: Bullish Impulse but Bearish Continuation Expected

After pulling back to the 61.8% FIBO level and encountering dynamic resistance, GBP/USD experienced a bullish impulse yesterday that brought the price up to 1.2150. Today, there is potential for the price to continue rallying in the direction of the main trend with a new short impulse. However, we are anticipating a bearish continuation.