The British Pound (GBP) extended its gains to 1.2480 in Thursday's European trading session. The GBP/USD pair is experiencing a period of heightened increase, propelled by a strong adjustment in the US Dollar, alongside growing expectations that the Bank of England (BoE) will postpone interest rate cuts.
The GBP/USD pair is rebounding from the 1.2400 level and focusing on surpassing the psychological resistance level of 1.2500. The Relative Strength Index (RSI) is currently trading above the 60 level, a positive sign indicating that GBP/USD may continue its strong growth trajectory in the near future.