The GBP/USD exchange rate posted some minor gains during the course of the European trading session on Tuesday. From a fundamental perspective, some corrections in the dollar and the treasury yields acted as tailwinds for the risk-sensitive British pound. The GBP/USD is up by some 0.40% so far and is eyeing the 1.1900 level which, once cleared, could pave the way for a weekly gain. The Bank of England is also expected to raise the interest rate in the next few weeks to bring inflation under control. The pair witnessed a quick jump this month and it will be interesting to see whether the bulls can hold on to the gains or not.
Important Pivots
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | 1.1846 | 1.1850 | 1.1858 | 1.1863 | 1.1871 | 1.1876 | 1.1884 |
| Fibonacci | 1.1850 | 1.1855 | 1.1858 | 1.1863 | 1.1868 | 1.1871 | 1.1876 |
| Camarilla | 1.1862 | 1.1863 | 1.1864 | 1.1863 | 1.1867 | 1.1868 | 1.1869 |
| Woodie’s | 1.1846 | 1.1850 | 1.1858 | 1.1863 | 1.1871 | 1.1876 | 1.1884 |
| DeMark’s | – | – | 1.1860 | 1.1864 | 1.1873 | – | – |
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