Overall, GBP/USD is trending upwards. Recently, GBP/USD broke below the key level of 1.38 due to the strengthening of USD after Federal Reserve Chairman Jerome Powell said in a speech that he expects inflation to rise in the near future but is insufficient to trigger a rate hike from the central bank.
The UK construction PMI data (Actual: 53.3, Forecast: 51.1, Previous: 49.2) released yesterday indicated an increase in the pace of expansion in the UK construction sector.
GBP/USD’s next support zone is at 1.37800 and the next resistance zone is at 1.40000.
Look for short-term selling opportunities of GBP/USD.
The UK construction PMI data (Actual: 53.3, Forecast: 51.1, Previous: 49.2) released yesterday indicated an increase in the pace of expansion in the UK construction sector.
GBP/USD’s next support zone is at 1.37800 and the next resistance zone is at 1.40000.
Look for short-term selling opportunities of GBP/USD.