The GBP/USD is showing signs of immediate strength as we see strong ascending trend lines on the H4 chart and a retracement trend line which has been broken.

The zone 1.2395-1.2415 (L4, EMA89, retracement trend line) marks POC, but since the 4h candle has already closed, we might see a continuation of a bullish trend around the 1.2455 level towards 1.2506.

If we see a 4h close above 1.2506 next targets are 1.2560 and 1.2600. 1.2675 can only be reached if we see a daily close above 1.2600. The GBP/USD needs to stay above 1.2375 for this scenario to succeed.