GBP/USD Price Analysis: Bulls gather strength to take out the key 1.2200 resistance GBPUSD Technical Analysis Currencies Brexit DollarIndex
Risk aversion weighs negatively on the Pound Sterling ahead of BoE-speak.GBP/USD is consolidating the upside below 1.2100, having failed to sustain above the latter earlier in the Asian session this Thursday. The strength in the major can be mainly attributed to the broad-based weakness in the US Dollar following the dovish FOMC minutes and downbeat US S&P Global PMIs.
Looking forward, thin market conditions could exaggerate the moves in GBP/USD pair while traders will also closely follow the speeches from theFrom a short-term technical perspective, GBP/USD is gathering strength to clear out the critical resistance near 1.2200, which is the convergence of the rising wedge upper boundary and the bearish 21-Daily Moving Average .
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