GBPUSD approaching support, potential bounce!

GBPUSD is approaching our first support at 1.2643 (ascending channel’s support, 38.2% Fibonacci retracement, 61.8% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 1.2740 (horizontal swing high resistance, 100% Fibonacci extension).
RSI (21) is also approaching our support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.