First, the MACD (Moving Average Convergence/ Divergence). It is an indicator that combines two measures on the price and interrupts them in an open range (Oscillator) with a medium reference point.
According to BofA, the daily and weekly charts of GBP/USD present a favorable setup for a rally toward the 200-day and 200-week moving averages, with respective levels of 1.2791 and 1.2750.