- GBP/USD rebounds off uptrend line
- Records 6 straight green days
- MACD continues upside move but stochastics weaken
- Is it time for bearish correction?
GBP/USD has been in an unprecedented rally since the rebound of 1.2715, adding more than 4%, confirming the bullish tendency. The pair posted a new six-month high of 1.3220 earlier in the day and recorded five straight green days.
From a technical standpoint, the MACD oscillator is extending its positive momentum above its trigger and zero lines, while the stochastic is looking overstretched above the 80 level.
If the bulls overcome the immediate resistance at 1.3235, then the pair may challenge the two-and-a-half-year high of 1.3433 ahead of the peak in February 2022 at 1.3635. 
In the negative scenario, a retreat below 1.3200 could open the door for the 1.3100 psychological mark ahead of the mid-level of the Bollinger band at 1.2950. Even lower, the 1.2870 support and the bullish crossover within the 50- and 200-day simple moving averages (SMAs) at 1.2815 could be crucial levels to watch.
To sum up, GBP/USD is experiencing a bull run, but a negative correction could not be ruled out. The outlook in the short-term is strongly positive, but in the medium-term the pair needs more boost to clear the picture.