GBPUSD Chart Technical Outlook has a prime resistance at 1.2660 to complete the correction
GBP/USD consolidates last week’s sell-off. It is developing a WXY structure with room for mild gains to complete wave Y. This week’s high could cap the upside correction, which overlaps a previously broken barrier and 38.2% Fibo level at 1.2660. Today’s volatility should be subdued due to holidays, but the US PCE data could move prices. A soft print, as expected, is needed to push the pair higher. Supports are located at 1.2590 and 1.2575.
