The Pound Sterling resumed its advance against the US Dollar, climbing more than 0.40% and trading at 1.2518.
GBP/USD gains over 0.40%, rebounding from daily lows after US Q1 economic growth underperforms expectations. Mixed signals from the US economy support Sterling's rise. Technical outlook: Key resistance at 1.2559 with potential to target April 9 high at 1.2709 if upward momentum continues. During the day, the GBP/USD bounced off daily lows of 1.2450 following the release of mixed economic data from the United States.
Therefore, the GBP/USD first resistance would be the 200-day moving average at 1.2559. A breach of the latter will expose the 1.2600 figure, followed by the 50 and 100-DMAs, each a 1.2624 and 1.2647. Once those levels are surpassed, the April 9 high would be up next. On the other hand, if GBP/USD slumps below 1.2500, that would keep the downtrend intact and pave the way to re-test the year-to-date low of 1.2299. GBP/USD Price Action – Daily Chart GBP/USD Overview Today last price 1.
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