On the hourly chart of GBPUSD, we are looking a a new reversal higher being made, after some support came kicking in at the 1.2109 level. We see blue wave one, which may have just found some resistance around the 1.2308 zone and current intraday weakness may be wave two, which can see some support around the 50.0 or 61.8 Fibonacci ratio.
GBPUSD, 1H
