As you can see in the chart above, the GBP/USD has already violated the sideways channel, which was keeping Sterling steady below 1.2380. The immediate resistance is likely to be around 1.2520 and 1.2560. While support can be seen around 1.2380. The RSI is massively overbought, so we may see GBP/USD going towards 1.2450 area before continuing bullish trends.