From a technical point of view, on a daily chart, GBP/USD remains supported by a rising trend line and by its 50-day moving average (in blue). The daily RSI stands within its buying area between 50 and 70. Readers may therefore consider the potential for further up move above horizontal support at 1.2335. The nearest resistance would be set at June top at 1.2810 and a second one would be set at set at March high at 1.3200 in extension.
Source: TradingView, GAIN Capital