GBPUSD positioning for a move higher

The pound sterling lost some ground, down over 0.80% intraday.

However, prices are recovering after the level near 1.2485 didn’t manage to stall the declines.

The Stochastics oscillator is hinting at a potential hidden divergence. This puts the upside bias in view.

A continuation higher will see GBPUSD potentially reaching for the 1.2858 level where resistance will most likely form on the initial test of the price level