GBPUSD broke above the resistance of the rising trend line on its 4-hour chart, suggesting that the pair is in short term uptrend from 1.2769. Further rise towards 1.3047 previous high would likely be seen in a couple of days. Near term support is at 1.2870, only a breakdown below this level will indicate that the uptrend is complete, then the following bearish movement could bring price back into 1.2600 zone.
