The GBPUSD price continued to rise to breach 1.2415$ and settle above it, which represents 23.6% Fibonacci correction level for the decline from 1.3434$ to 1.2100$, which opens the way to achieve more bullish correction and head to visit 1.2609$ areas on the near-term basis.

 

Therefore, the bullish bias will be suggested for the upcoming sessions, taking into consideration that breaking 1.2415$ will stop the bullish wave and push the price back to the main bearish channel again.

 

The expected trading range for today is between 1.2375$ support and 1.2530$ resistance

 

Trend forecast: Bullish