GBP/USD headed to 1.2700 / 1.2800 from here?

Analysts at Scotiabank explained that GBP/USD is making some significant technical inroads as well.

Key Quotes:

"The market has set a marginal new cycle high this morning, the first real advance of this kind since the mid-2016 sell-off."

"Breaking the cycle of lower lows and lower highs supports the impression of a turn in the trend and the potential, at least, for gains to extend."

"Above 1.2570, the late Feb high, Cable may push on to upper 1.27/low 1.28 area from here."