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As RalphBenjamin mentioned in last week's analysis, GBP is currently in a corrective recovery phase, receiving support at 1.256. However, overcoming the 1,270 resistance seems challenging and remains the target.
Currently, at the opening of this week's trading session, GBP is trading at 1.2605, after stopping at 1.256. According to the Fibonacci tool from Trading View, the prospect of GBP recovering and reaching the 0.5 (1.268) level is entirely possible, and if this happens, GBP/USD will have difficulty testing the 1.270 mark. .
Once the current resistance is broken, there will be nothing to stop GBP from moving higher. What are your thoughts on this perspective?
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