Overall, GBP/USD is trending upwards. Recently, GBP/USD broke the support zone of 1.26000.
The UK GDP m/m data (Actual: -20.4, Forecast: -18.6%, Previous: -5.8%) released last Friday indicated further negative economic growth in April from March.
Currently, GBP/USD is bouncing up from the key level of 1.25. Its next support zone is at 1.24400 and the next resistance zone is at 1.26000.
Look for short-term selling opportunities of GBP/USD if it breaks below the key level of 1.25.
The UK GDP m/m data (Actual: -20.4, Forecast: -18.6%, Previous: -5.8%) released last Friday indicated further negative economic growth in April from March.
Currently, GBP/USD is bouncing up from the key level of 1.25. Its next support zone is at 1.24400 and the next resistance zone is at 1.26000.
Look for short-term selling opportunities of GBP/USD if it breaks below the key level of 1.25.