GBPUSD | Market Outlook

- GBPUSD rebounded strongly last week but failed to break 1.2647 resistance. Initial bias remains neutral this week or we might go back to 1.25900 area to retest the previous structure. Further rise is in favor as long as 1.2247 support holds.
- A break of 1.2647 will resume the rise from 1.1409 to 1.3200 resistance.

- On the downside, break of 1.2247 support will indicate an intraday bias turned back to the downside for retesting 1.1409 low.