GBP/USD is trading higher ahead of UK 4Q GDP data which is to be released today.UK GDP is expected to have moderated to 0.6% in this quarter compared to 0.7% in Q3.
In the weekly chart GBP/USD has formed bullish divergence and rebound till 1.5265 cannot be ruled out.
On the downside GBP/USD is facing short term support at 1.4950 and break below will target 1.4810 in short term.
Recommendation: Buy GBP/USD around 1.5065-75, SL 1.4949, Target 1.5248
In the weekly chart GBP/USD has formed bullish divergence and rebound till 1.5265 cannot be ruled out.
On the downside GBP/USD is facing short term support at 1.4950 and break below will target 1.4810 in short term.
Recommendation: Buy GBP/USD around 1.5065-75, SL 1.4949, Target 1.5248
