The GBP/USD pair is trading in the green at 1.2494 at the time of writing and it seems determined to resume its growth as the Dollar Index remains bearish. The price stands higher even if the UK Retail Sales came in worse than expected, while the US Building Permits and Housing Starts came in better than expected on Friday.
Today, the US CB Leading Index reported a 0.8% drop compared to the 0.5% drop expected. Tomorrow, the UK Public Sector Net Borrowing and Monetary Policy Report Hearings but only the US FOMC Meeting Minutes and the Canadian CPI could have a big impact.
GBP/USD Bullish Bias!
As you can see on the H1 chart, the rate extended its growth after taking out the 1.2443 static resistance.
Now, it stands near the 1.2504 key upside obstacle. The bias is bullish as long as it stays above the uptrend line.
GBP/USD Outlook!
Jumping, closing, and stabilizing above 1.2504 activates further growth and is seen as a buying opportunity.
