GBPUSD marches towards two-month high at 1.1740 amid euphoric market mood, UK GDP eyed
The GBPUSD pair is advancing firmly to kiss the two-month high at 1.1738 in the early Tokyo session. A significant drop in the US inflationary pressures has infused an adrenaline rush into risk-sensitive assets. Euphoria in the market mood has improved the risk appetite of investors vigorously.
Could GBPUSD reach the 1.1074 level?
An uptrend will start as soon, as the market rises above resistance level 1.1661, which will be followed by moving up to resistance level 1.1965. The downtrend may be expected to continue, while market is trading below resistance level 1.1661, which will be followed by reaching support level 1.1074.