GBPUSD broke above the bearish trend line on the 4-hour chart and bounced strongly to as high as 1.3048, suggesting that the downside movement from 1.3132 had completed at 1.2865 already. Further rally is still possible after a minor consolidation and next target would be at 1.3150 area. Support is at 1.2980, as long as this level holds, the uptrend will continue.
