Tries to build another bull leg
The GBPUSD is moving to new session highs and in the process is trying once again to get and stay above the 1.2836-40 area. The price is also above the high from last week's trading at 1.2788.
Having said, that the price action has been swinging higher and lower in the London/European session (and above and below the aforementioned levels). So, the break is real. The buyers are making a play. The "market" will be looking for more upside momentum. The next target is the 382.% at 1.28718.
PS earlier today, the price moved above and away from the 1.2791 level. That level has been a swing level (see red circles). The pair tried to stall against that level yesterday but could not keep the lid on.