FX.co ★ Technical review for GBP/USD: limited growth may take place

GBP/USD found support at 1.2420 ahead of the Fed meeting next week. Also, limited growth may take place amid the closure of some dollar positions in the wake of a technical rebound.Technical picture:The quote is above the middle line of the Bollinger indicator, above SMA 5 and SMA 14. Meanwhile, the relative strength index (RSI) has left the oversold zone, while the stochastic indicator is growing steadily and is above 50%.Possible dynamics:The pair may climb to 1.2610 after rising above 1.2535.