GBP/USD consolidated below the highest level for weeks at 1,2300
Samson greets everyone! Currently, the GBP/USD pair has gained momentum and reached a two-week high at 1.2250 after today's trading session.
The positive shift in risk sentiment has made it difficult for the US Dollar (USD) to find early demand on Tuesday, thereby boosting the GBP/USD exchange rate. At the time of writing, the UK's FTSE 100 index has risen by 1.5% for the day, while US futures have increased by around 0.2%, potentially allowing this currency pair to extend its recovery in the latter half of the day.
On the upside, 1.2300 aligns with the next resistance level before 1.2350 and 1.2380. On the other hand, 1.2250 may serve as a temporary support level before 1.2220 and 1.2200.
The positive shift in risk sentiment has made it difficult for the US Dollar (USD) to find early demand on Tuesday, thereby boosting the GBP/USD exchange rate. At the time of writing, the UK's FTSE 100 index has risen by 1.5% for the day, while US futures have increased by around 0.2%, potentially allowing this currency pair to extend its recovery in the latter half of the day.
On the upside, 1.2300 aligns with the next resistance level before 1.2350 and 1.2380. On the other hand, 1.2250 may serve as a temporary support level before 1.2220 and 1.2200.
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As expected, I think GBPUSD will touch the resistance level
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