GBPUSD Chart Technical Outlook trades north ahead of a busy US calendar, bulls target 1.2700
GBP/USD’s recent bias is bullish. Prices completed a three-wave structure last week at the 61.8% Fibo level of the preceding rally and bounced higher. USD was under pressure last Friday on weaker business activity. The UK calendar is light this week except for the Spring Budget announcement on Wednesday, while it is a busy week in the US.
I expect more upside price action toward the previous week’s high.
Resistances: 1.2700, 1.2810
Supports: 1.2605, 1.2520
