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The GBP/USD pair increases at the time of writing and it could try to approach and reach the 1.2639 key level, the former high which stands as a potential upside obstacle. As long as it stays above the uptrend line, the pair could resume its growth.
As you can see on the H4 chart, after jumping above the downtrend line, the price was expected to develop a new uptrend, an upside reversal, so the current upwards movement is natural.
Staying above the uptrend line and jumping above 1.2639 could activate an upside continuation.
The upside scenario could be invalidated by a valid breakdown below the uptrend line and below the 1.2484 immediate low.
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