Reexamination & Unsuccessful Attempt at the Daily Resistance Point 1.2620.
Monitoring the price thresholds on both the daily and 15-minute charts of GBPUSD.
The price has surged back towards the significant daily resistance mark at 1.2620.
1.2620-31 signifies the daily resistance threshold coupled with the 79% Fibonacci retracement level.
We are keeping a vigilant eye on the possibility of the price surging and then encountering failure around this intraday resistance zone, which could lead to a subsequent downtrend, with a target set at the daily support level of 1.2544.