GBPUSD rose on Monday, and the technical bias is bullish due to higher highs in the recent downtrend.
The pair is currently trading near 1.41069. and multiple resistance levels can be seen above which may prevent the price from rising further.
- Resistance level 1: 1.41300
- Resistance level 2: 1.41600
- Resistance level 3: 1.41850
Below the price, multiple support levels can be seen which may prevent the price from falling.
- Support level 1: 1.40700
- Support level 2: 1.40380
- Support level 3: 1.40000
United States will announce its May retail sales data today. Higher data will indicate favorable for the US dollar, so it is negative for the GBPUSD currency pair, and vice versa.
Looking at the current price trend and economic development, it may be a good trading choice to buy the GBPUSD current pair near the current level.