Dear traders, GBP/USD has rallied quite a bit after consolidating for a few days.
Currently, price has crossed a key level 1.2560 which is a moderate resistance level. Whether the level has been broken or not can not be said with certainity because we are not seeing a big bullish candlesticks in the level. In case, bearish price action happens at this level, we can see GBP/USD slide back to 1.2450 level.
However, a bigger resistance lies in 1.2675 where I think it would be a good sell entry in case price reaches that level. TP can be placed at 1.25 with SL above the resistance.