The British Pound Posted a modest recovery during the trading session on Friday and further extended to the upside on Monday morning. The GBP/USD is trading 0.85% higher at the time of writing as the bulls aim to retest the 21-day exponential moving average price. Analyzing the daily chart, we can see that the price rebounded sharply after testing the major support zone near the 1.1500 level. If the risk on sentiment persists in the market, then GBP/USD is likely to Close above the next immediate resistance near the 1.1700 level.
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