The GBPUSD on the 1-hour chart is currently receiving support from a previous price increase around the 1.220 area, which is a positive signal for a decent recovery.
In terms of this week's outlook, the GBP/USD pair may have received a boost from better-than-expected preliminary GDP data released by the UK on Friday, along with a weaker US dollar. The current resistance level is at 1.23, and surpassing this level could potentially push this currency pair towards conquering the high point at 1.242.
In terms of this week's outlook, the GBP/USD pair may have received a boost from better-than-expected preliminary GDP data released by the UK on Friday, along with a weaker US dollar. The current resistance level is at 1.23, and surpassing this level could potentially push this currency pair towards conquering the high point at 1.242.
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