GBPUSD Chart Technical Outlook

GBPUSD Chart Technical Outlook prime support is currently located at 1.2559
The rally stalled yesterday with price action posting mild net losses on the daily chart.
The six-hour chart highlights the pair moving higher within a bullish channel formation. We have a projected channel top close to the 78.6% retracement level of 1.2765.
Intraday support is located at 1.2559.
Conclusion: the immediate bias is hard to ascertain. I would look for rallies to be sold at 1.2765 and intraday dips to be bought at 1.2559.

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