Overall, GBP/USD is ranging across. Recently, GBP/USD bounced off the resistance zone of 1.40000.
The UK GDP m/m data (Actual: -2.9%, Forecast: -4.9%, Previous: 1.2%) released last Friday indicated a decline in economic growth in January mainly due to the return of COVID-19 restrictions.
Currently, GBP/USD is moving towards the key level of 1.39. Its next support zone is at 1.37800 and the next resistance zone is at 1.40000.
Look for selling opportunities of GBP/USD if it breaks below the key level of 1.39.
The UK GDP m/m data (Actual: -2.9%, Forecast: -4.9%, Previous: 1.2%) released last Friday indicated a decline in economic growth in January mainly due to the return of COVID-19 restrictions.
Currently, GBP/USD is moving towards the key level of 1.39. Its next support zone is at 1.37800 and the next resistance zone is at 1.40000.
Look for selling opportunities of GBP/USD if it breaks below the key level of 1.39.