British Pound

GBP/USD: The Pair is Trading on a Positive Note

GBP/USD Hourly (H1) Chart
GBP/USD Hourly (H1) Chart

GBP/USD: The pair is trading on a positive note given better than expected outcome in UK GDP update. However, the price still remains trapped below 1.22 handle as GDP data was a clear sign of the UK economy’s sufferings from Brexit and COVID-19 pandemics. Weak USD also aids some level of support to rally, but it’s mostly negligible. Traders now await Powell Speech & PPI data for short term profit opportunities. 

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