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GBPUSD Rallies On Price Follow Through

GBPUSD rallied on Thursday as it followed through higher on the back of its Wednesday gain. Support lies at 1.2350 area with a break below that level turning attention to the 1.2300 level. Further down, support lies at the 1.2250 level where a violation will shift focus to the 1.2200 level. Below here will open the door towards the 1.2150 level. On the upside, resistance is located at the 1.2450 with a break above there allowing for morel strength to build up towards the 1.2500 level. Further out, resistance stands at the 1.2550 level followed by the 1.2600 level. On the whole, GBPUSD retains its corrective upside pressure.

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