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The GBP/USD price shows a bullish bias after testing the 1.2415 level in the past sessions, so the bullish scenario remains valid and effective, waiting to visit the 1.2609 level as the next main target.

The price needs to consolidate above the 1.2415 - 1.2385 levels to ensure the continuation of the bullish trend, as breaking it represents the key to return to the main descending channel and then resume the main bearish trend again.

The stochastic indicator continues to lose positive momentum to approach the overbought areas, waiting to motivate the price to resume the expected bearish trend on the immediate and short term, whose targets start at 1.0325 and extend to 1.0220 after breaking the previous level.

Stability below 1.0455 is important for the continuation of the negative scenario, as breaching it will lead the price to achieve new gains at 1.0600 on the short term.