GBPUSD Chart Technical Outlook heads north toward the resistance zone 1.2550-80 ahead of the US PCE data.
GBP/USD’s recent bias is bearish. Prices have completed a three-wave corrective leg to the downside. They have bounced, breaking above the previous week’s high. There is room for more gains toward the resistance zone at 1.2550-80. I expect prices to hold around the mentioned area ahead of today’s US PCE data. Supports are located at 1.2450 and 1.2400.
