GBPUSD H1: Bullish outlook seen, further upside above 1.2820

Price was range-bound between 1.2700 and 1.2750 but has recently broken out consolidation. Price is now hovering above a key support zone at 1.2720, which nears the 61.8% Fibonacci retracement, on H1 timeframe. A throwback to this zone could present an opportunity to ride the bounce to the resistance zone at 1.2820, which coincides with the 161.8% Fibonacci extension. Price is above ichimoku cloud, supporting our bullish bias.