From about 2 weeks pair GBP/USD is rising strongly, making up part of the earlier losses. The selected period is dominated by white candles what means strong demand, clearly pointing to bullish market.
Looking on the graph D1 from a higher perspective, you will see that we still have some room for growth. The main obstacle to growth is the resistance area 1,2800-50 or level of the previous two lows.
Even more interesting it looks on H1 chart, where the price is testing just 2-weeks uptrend line. Declines lasted for about 2 days and reached the range of the previous correction. It is therefore a good place to rebound, but for now, lacks any signal that would show the activity of buyers. The key may be 10:30, when we will know a whole series of readings of inflation in the UK. Then everything can be resolved. If there is no rebound, and the price breaks the trend line, the next goal will become a support at 1.2350.
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