Apart from the Brexit which has devalued GBP, the United Kingdom failed to surpass its counterparts, the US and Germany, in government bonds yields which weakens GBP as well. However, despite all the difficulties, GBPUSD is showing signs of price growth and for tomorrow all eyes will be on the British Central Bank meeting.
GBPUSD have had a bullish tendency above 1.4000 and is moving around the SMA of 200.The MACD indicator is also showing the bullish tendency at positive territory.
As the support lies at 1.42240 and resistance at 1.42700 there is a good chance that pair breaks the resistance level and reach 1.4310. Buyers can wait for the resistance breakout and then open their positions to target 1.4310.