The GBPUSD surges higher despite the release of 0% on the GDP m/m and a downgrade from IMF.
As the price approaches the 1.2520 swing high level from 5th of April, a break of the swing high could see a test of the key resistance level of 1.2555.
While this move higher is likely to be driven by the weakness in the DXY, a possible trade idea could be a counter trend reversal, either at the swing high or the resistance level of 1.2555