• Bullish engulfing candle and bounce off the 200DMA Thursday

• Rebound reaches 1.2771, shy of the 10DMA at 1.2777

• Fibos off1.3044-1.2666 drop: 1.2810 and 1.2855, 38.2% and 50%, respectively

• Daily RSI is rising but momentum remains negative

• Support now at the daily cloud top, 1.2726

• Back to back long weekly candle shadows underline the bullish bias

• GBP/USD trader TGM2338

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