GBPUSD at a decision point
As the DXY weakens, this has led the GBPUSD to climb steadily to the upside testing the resistance level of 1.2280, which also coincides with the 61.80% Fibonacci retracement level from the longer term.
However, the UK FPC is due to release its statement and minutes which could see a sharp reversal if the sentiment is dovish.
A break of the resistance level could see the GBPUSD continue its climb higher, with the next major resistance level slightly above 1.24
However, the UK FPC is due to release its statement and minutes which could see a sharp reversal if the sentiment is dovish.
A break of the resistance level could see the GBPUSD continue its climb higher, with the next major resistance level slightly above 1.24
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