Gbpusd upside, 1.2652 (Fibonacci 23.6% retracement of the latest uptrend) aligns as immediate resistance before 1.2680 (20-day SMA, 50-day SMA) and 1.2710 (psychological level, 200-period SMA on the 4-hour chart).
1.2601 (static level, psychological level) could be seen as interim support before 1.2562 (200-day SMA). A daily close below the latter could attract technical sellers and open the door for another leg lower toward 1.2541 (Fibonacci 38.2% retracement) and 1.2501 (psychological level, static level).
1.2601 (static level, psychological level) could be seen as interim support before 1.2562 (200-day SMA). A daily close below the latter could attract technical sellers and open the door for another leg lower toward 1.2541 (Fibonacci 38.2% retracement) and 1.2501 (psychological level, static level).