• RES 4: 1.2947 1.50 proj of the Apr 22 - May 3 - 9 price swing   
• RES 3: 1.2908 1.382 proj of the Apr 22 - May 3 - 9 price swing
• RES 2: 1.2894 High Mar 8 and a key resistance
• RES 1: 1.2860 High Jun 12 and bull trigger 
• PRICE: 1.2762 @ 16:24 BST Jul 3
• SUP 1: 1.2613 Low June 27
• SUP 2: 1.2584 Low May 15 
• SUP 3: 1.2514 61.8% retracement of the Apr 22 - Jun 12 bull cycle
• SUP 4: 1.2446 Low May 9 and a key near-term support     

GBPUSD traded higher Wednesday, extending the recovery from Tuesday's low. The short-term bounce undermines the recent bearish theme and highlights a potential short-term reversal. Resistance to watch is 1.2740, the Jun 19 high. A break of this hurdle would be a bullish development and open 1.2860, the Jun 12 high and the key resistance. On the downside, key support has been defined at 1.2613, the Jun 27 low. A break would resume the recent bear leg.