GBP/USD analysis: Returns to 1.4200

Dukascopy Bank Team Dukascopy Bank SA

GBP/USD

On Thursday, the British Pound edged higher by 90 pips or 0.64% against the US Dollar. The currency pair returned to the 1.4185 area during Thursday's trading session.

All things being equal, the exchange rate might continue to surge during the following trading session. The potential target for bullish traders will be near could be near the weekly resistance level at 1.4240.

However, the resistance line at the 1.4200 level could still provide resistance for the GBP/USD currency exchange rate within this session.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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