FX.co ★ GBP/USD approaching major support, prepare to turn bullish

Price dropped perfectly from our selling area towards our profit target yesterday. We prepare to turn bullish above 1.2508 support (Fibonacci retracement, Fibonacci projection, horizontal pullback support) to play the rise to at least 1.2684 (Fibonacci retracement, Fibonacci projection, previous swing high resistance).

RSI (34) is seeing major support at the 39% level.

Buy above 1.2508. Stop loss at 1.2375. Take profit at 1.2684.