GBP/USD Outlook (26 April 2021)
ByJin Dao Tai
APR 26, 2021
Overall, GBP/USD is ranging across.
The UK Retail Sales m/m data (Actual: 5.4%, Forecast: 1.5%, Previous: 2.2% revised from 2.1%) released last Friday indicated that consumer spending continues to increase at a faster pace in March.
The UK flash PMI data released last Friday indicated that business activities continue to expand at a faster pace.
- Flash Manufacturing PMI (Actual: 60.7, Forecast: 59.0, Previous: 58.9 revised from 57.9)
- Flash Services PMI (Actual: 60.1, Forecast: 58.9, Previous: 56.3 revised from 56.8)
Currently, GBP/USD is testing to break above the key level of 1.39. Its next support zone is at 1.38000 and the next resistance zone is at 1.40000.
Look for buying opportunities of GBP/USD if it breaks above the key level of 1.39.
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