GBPUSD: Consolidates With Downside Bias…
As long as 1.2615 support holds on a daily closing basis, the GBPUSD remains neutral with risk to move higher. But the upside move above 1.2615 should be limited by 1.2706/1.2756 levels. Above 1.2756 will extend the corrective recovery to 1.2848 level, further upside, resistance comes at 1.2963 level.
On the downside, below 1.2615 sees a fall risk to 1.2559 level. Below 1.2559 will turn the focus on 1.2480 level, next support comes at 1.2402 level.
Conclusion: The GBPUSD sees limited gains above 1.2615 levels.
Support: 1.2615, 1.2559, 1.2480, 1.2402
Resistance: 1.2706, 1.2756, 1.2848, 1.2963