Public Sector Net Borrowing will be released in the UK and the US will publish Crude Oil Inventories and FOMC Meeting Minutes.
The support rests at 1.20970 with resistance at 1.21900 which the weekly pivot point at 1.21140 is located in between the lines. The EMA of 10 is moving with bullish bias in the descendant channel and it is below the EMA 200 and the EMA of 100. The RSI is moving above 50 level and the Stochastic is moving in high ranges. The MACD line is above the signal line in the positive territory. The ADX is showing sell signal.
GBPUSD is moving in a tight range within Bollinger bands however, the resistance level breakout will confirm the bullish trend targeting 1.22200.