GBP/USD springs higher, looking for 1.2300
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Brina greets you all!
Currently, the GBP/USD has regained momentum and risen to its highest level in over two weeks at 1.2250 after today's trading session.
The positive shift in risk sentiment has made it difficult for the US Dollar (USD) to find demand early on Tuesday, thereby helping boost the GBP/USD. At the time of writing, the UK's FTSE 100 index has risen by 1.5% for the day, while US futures are up around 0.2%, which could allow this currency pair to extend its recovery in the latter half of the day.
On the upside, 1.2300 aligns with the next resistance level ahead of 1.2350 and 1.2380. On the other hand, 1.2250 may serve as a temporary support level before 1.2220 and 1.2200.
Currently, the GBP/USD has regained momentum and risen to its highest level in over two weeks at 1.2250 after today's trading session.
The positive shift in risk sentiment has made it difficult for the US Dollar (USD) to find demand early on Tuesday, thereby helping boost the GBP/USD. At the time of writing, the UK's FTSE 100 index has risen by 1.5% for the day, while US futures are up around 0.2%, which could allow this currency pair to extend its recovery in the latter half of the day.
On the upside, 1.2300 aligns with the next resistance level ahead of 1.2350 and 1.2380. On the other hand, 1.2250 may serve as a temporary support level before 1.2220 and 1.2200.
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