
Technical Analysis of GBP/USD
The GBP/USD pair is moving in an uptrend on the 15-minute timeframe, with prices forming an OB around the 1.3535 level, considered a key buying zone. Given the weakness in the U.S. dollar, GBP/USD is expected to rise during the day. It is worth noting that the pair continues to move upward on the 4-hour timeframe as well.
Key Economic News
Today, the major U.S. economic release was the monthly Producer Price Index (PPI), which has already been published. The market is expected to trade relatively quietly in anticipation of tomorrow’s Consumer Price Index (CPI) data.
Liquidity Levels
Prices are expected to rise and target the 1.3575 level. A confirmed breakout and consolidation above this level may lead to further upside toward 1.3790.
Invalidation Scenario
The bullish outlook will be invalidated if prices reach 1.3510.