GBPUSD : The price increase has not cooled down yet

Hello everyone, the GBP/USD pair has extended its upward momentum, trading below the psychological barrier of 1.2700 during the early Asian session on Tuesday. The FOMC minutes revealed that the Fed has reemphasized its data-driven approach, leading to a more dovish outlook, which weighed on the US Dollar (USD) and provided favorable winds for this currency pair.
At the time of writing, GBP/USD is trading at 1.2685, marking a 0.02% increase for the day. There is potential for further gains if GBPUSD can break through the short-term descending trendline on the chart.

What are your thoughts on GBPUSD? Feel free to share your comments below!

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