The pound sterling was muted to the strength of the US dollar. The GBPUSD held steady near Friday’s highs, which marks a two-month high in the currency pair. British Prime Minister Boris Johnson is in Luxembourg meeting with the European Commission President, Jean-Claude Juncker.
GBP/USD Slips a Few Pips Away From Resistance
The currency pair reversed gains, just a few pips off the resistance level of 1.2533 – 1.2511. But following the reversal yesterday, price action is forming a higher low. This could confirm a possible breakout from the resistance area. However, we expect the gains to stall near the resistance level. GBPUSD could, therefore, settle within the range of the said resistance and the lower support of 1.2328.