GBPUSD is approaching our first resistance at 1.2684 (100% Fibonacci extension, 23.6% Fibonacci retracement , horizontal overlap resistance) where a potential reversal might occur below this level pushing price down to our major support at 1.2525 (76.4% Fibonacci retracement, horizontal swing low support). Stochastic (21, 5, 3) is approaching our resistance where we might see a potential reversal below this level.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.