The GBP/USD closed at 1.2200 on Thursday, marking the highest level in a week. This was supported by the Bank of England's decision to keep interest rates unchanged and the weakness of the US dollar. The DXY weakened amid risk appetite. The US job report will be released on Friday.
On the 4-hour chart, the upward trend of GBP/USD remains intact with no signs of a breakout. If conditions remain favorable, the price could continue to rise towards the resistance level at 1.226, with strong support at 1.217.
On the 4-hour chart, the upward trend of GBP/USD remains intact with no signs of a breakout. If conditions remain favorable, the price could continue to rise towards the resistance level at 1.226, with strong support at 1.217.
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