Overall, GBP/USD is ranging across. Recently, GBP/USD trended lower, breaking the support zone of 1.23200.
Yesterday, Bank of England committee member Vlieghe commented that the UK is currently in recession.
The UK Final GDP q/q data (Forecast: -2.0%, Previous: -2.0%) will be released later at 1400 (SGT).
Currently, GBP/USD is testing the resistance zone of 1.23200 and the next support zone is at 1.21000.
If GBP/USD bounces off the resistance zone of 1.23200, look for short-term selling opportunities of GBP/USD up until the testification by Federal Reserve Chairman Jerome Powell tomorrow at 0030 (SGT).
Yesterday, Bank of England committee member Vlieghe commented that the UK is currently in recession.
The UK Final GDP q/q data (Forecast: -2.0%, Previous: -2.0%) will be released later at 1400 (SGT).
Currently, GBP/USD is testing the resistance zone of 1.23200 and the next support zone is at 1.21000.
If GBP/USD bounces off the resistance zone of 1.23200, look for short-term selling opportunities of GBP/USD up until the testification by Federal Reserve Chairman Jerome Powell tomorrow at 0030 (SGT).