The British pound sterling rose to a fresh three month high as prices briefly touched 1.2728 before pulling back modestly.
The price action on the daily chart could indicate a possible flat close, however.
Unless the currency pair can push further, there is a strong chance of a correction in place.
For the moment, the support area at 1.2643 will be critical.
A breakdown below this level will, however, signal a move to the 1.2424 price level which could attract new buyers into the market.