GBPUSD

GBPUSD slightly retreated after reaching a fresh 2-month high of 1.3555, as traders booked profits at elevated levels. Currently, the currency pair continues to consolidate gains near the key psychological level of 1.3500, maintaining its bullish structure following the multi-week high.

Key Indicators

• The technical picture on the daily chart continues to support a fresh advance with a firm bullish tone after the latest bounce. The current RSI below 60 suggests we’re still in somewhat bullish territory without breaking into overheat mode.

Fundamental Context

Looking ahead, volatility is expected to remain elevated this week due to a series of key economic data releases and ongoing geopolitical tensions. Pound investors and traders should closely monitor major US economic reports, geopolitical developments, movements in the US dollar, and political shifts in the UK.