GBP/USD has been bullish recently due to bad economic reports on the USD side despite the political unrest and Brexit effect on the currency. Today GBP CBI Industrial Order Expectations report was published with a decreased figure at 10 from the previous figure at 16 which was expected to be at 12 and 30-y Bond Auction report was published at 1.83|2.2 which previously was at 1.67|2.1. On the USD side, today CB Consumer Confidence report is going to be published which is expected to decrease to 116.5 from the previous value of 118.9, HPI report is expected to decrease to 0.5% from the previous value of 0.7%, S&P/CS Composite-20 HPI report is expected to have a slight increase to 5.8% from the previous value of 5.7% and Richmond Manufacturing Index is expected to be unchanged at 7. Despite the bad economic reports on the GBP today the currency is currently showing some good gains over USD and expected to gain further in the coming days.
Now let us look at the technical view, the price is currently residing above the resistance level of 1.3040 and if the price remains above the level with a daily close further bullish move towards 1.3370 is expected to reach in the coming days. As the price remains above the dynamic level of 20 EMA the bullish bias is expected to continue further in this pair.
