GBPUSD After UK GDP Outperforms Expectations in March

Pound Sterling Climbs After UK GDP Outperforms Expectations in March

During early European trading on Friday, the Pound Sterling advanced against a broadly stronger US dollar, gaining ground against multiple currencies following unexpectedly robust UK GDP data for March and the first quarter.

According to figures released by the Office for National Statistics on Friday, the UK economy emerged from recession with growth rates exceeding forecasts. GDP increased by 0.4% in March and 0.6% over the first quarter, signaling a swifter economic recovery than anticipated.

GBPUSD technically:

Stabilizing the price Under the Resistance zone which is between 1.2540 and 1.2571 which is 1.2660 means it will continue the bearish trend to touch 1.2475

otherwise, stabilizing above 1.2571 means will continue the bullish trend to touch 1.2627 and 1.2693

Pivot Price: 1.2541
Support price: 1.2475, 1.2424, 1.2380
resistance price: 1.2620, 1.2693, 1.2780

The movement will be between 1.2475 and 1.2627

Previous idea: