GBP/USD set to rally off $1.22
Having built a base at $1.22 this week it looks like we could be seeing the beginning of a rally here. A move through $1.23 would open the way to targets at $1.2360 and then $1.2411.
Longer-term, a move could head towards $1.26 and then $1.2723. It would take a move below $1.2175 to suggest further weakness ahead.