The GBPUSD climbed strongly to the upside to approach the key resistance area of 1.1540. This move higher was due to the weakness of the DXY yesterday, despite the overall negative sentiment GBPUSD from the BoE.
Look for the GBPUSD to retrace lower towards the 1.1450 price level before a possible move higher again. However, if the GBPUSD breaks below 1.1450, the GBPUSD could trade significantly lower toward 1.13.
Look for the GBPUSD to retrace lower towards the 1.1450 price level before a possible move higher again. However, if the GBPUSD breaks below 1.1450, the GBPUSD could trade significantly lower toward 1.13.
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