• GBP/USD bulls are moving on in the daily highs. 
• An upside extension through the resistance opens the next layer of daily resistance. 

GBP/USD is making headway at the start of the week towards daily highs and there are prospects of a higher high for the forthcoming sessions at this rate of momentum. 

The following is an analysis of the daily, hourly and 5 min times frames that illustrate the bullish bias until the next layer of daily resistance. 

GBP/USD 1-hour chart

The price of GBP/USD has rallied from the 78.6% Fibonacci retracement of the hourly correction and could be destined to make a higher high.

GBP/USD 15-min chart

From a 5-min perspective, the bulls are making tracks from a 38.2% Fibo of the same correction with the 21-SMA close and supportive.

GBP/USD daily chart

However, from a daily perspective, the price will be headed towards a wall of resistance from which could see the price turn on its head in the coming sessions: