GBP/USD Rally Nears Critical Level, Eyes Further Upside Potential

The rally in the GBP/USD pair continued up to the critical level of 1.2555-1.2560 range, which is significant due to both the presence of the 200-day moving average and the trend resistance. Breaking above this level could pave the way for further gains towards the ranges of 1.2610 and 1.2670. On the downside, the initial support lies in the range of 1.2490-1.2500. Below this area, the broader range of 1.2450 and 1.2420-1.2400 comes into play.