Will the GBPUSD continue climbing?
Manufacturing and services PMI data for the UK was released stronger than expected at 46.2 and 48.8 respectively.
Combined with the weakness of the DXY, the GBPUSD broke above the 1.19 round number resistance level to climb strongly to the upside, ending the trading session at the 1.2050 price area.
Currently trading just below the 1.21 price level, further upside is anticipated following a consolidation and possible slight retracement.
If the GBPUSD continues to trade higher, the next key resistance is at 1.23.
Combined with the weakness of the DXY, the GBPUSD broke above the 1.19 round number resistance level to climb strongly to the upside, ending the trading session at the 1.2050 price area.
Currently trading just below the 1.21 price level, further upside is anticipated following a consolidation and possible slight retracement.
If the GBPUSD continues to trade higher, the next key resistance is at 1.23.
