FX.co ★ GBP/USD prepares to turn bullish

We prepare to turn bullish on GBP/USD above major support at 1.2433 (Fibonacci retracement, Fibonacci projection, horizontal overlap support) for a bounce up to 1.2563 resistance (Fibonacci retracement, horizontal pullback resistance).

Stochastic (21,5,3) is bouncing nicely above strong support at 4%.

Buy above 1.2433. Set stop loss at 1.2330 and take profit at 1.2563.