- GBPUSD rebound from 1.1958 extended last week and broke 38.2% fib retracement of 1.3381 to 1.1958 and NOW at 1.2502. UPSIDE SCEANRIO: Initial bias for this week remains for upside. Sustained break of 1.2502 will target 61.8% retracement level at 1.2837. DOWNSIDE SCENARIO: On the downside, break of 1.2283 minor support will suggest that the rebound is completed. and intraday bias will be turned back to the downside for retesting 1.1958 low.