GBPUSD H1: Bullish outlook seen, further upside above 1.2000
On the H1 time frame, prices are showing bullish order flow and a throwback to the support zone at 1.2000, in line with the Fibonacci confluence levels could present an opportunity to play the bounce to the resistance zone at 1.2080. This resistance zone coincides with the 78.6% Fibonacci extension. Prices are holding above the Ichimoku cloud as well, supporting the bullish bias.