GBPUSD Rallies Toward Overhead Resistance on H1

The above charts refer to the GBPUSD. The left chart shows the daily time frame. Price is below the black 20-day SMA and the SMA is heading down. Moreover, the RSI is below 50, which is on the bearish side of the oscillator. The right chart shows the hourly time frame. Here, price is rallying with the EMAs in bullish mode and the RSI above 50. Overhead resistance is around the 1.2175 level (red shaded horizontal). This may be a target level for short sellers.