Technical analysis:
GBP/USD has been trading upside and I found the rejection of the key resistance cluster at the price of 1.2300. There is the chance for the further rejection or the upside breakout and hold.
In case of the rejection of the pivot resistance at 1.2300, there is the chance for the rotation down towards 1.2235.
In case of the upside breakout of the resistance at 1.2300, there is the chance for the rally towards next upside reference at 1.2390
RSI oscillator is showing reading above 50 level, which is sign that trend is upside.
