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.
