The GBP/USD pair is building onto previous gains above 1.2150 amid a risk-on mood in European trading. The broad US Dollar weakness is reportedly underpinning the pair.
GBP/USD bulls flirt with the 1.2100 threshold during Monday’s Asian session, after posting the biggest daily jump in five weeks on Friday. Even so, the Cable pair remains on the bull’s radar as it defends the previous day’s technical breakouts.
Not only the upside break of a descending resistance line from December 19, as well as the 100-SMA, but the bullish MACD signals and firmer RSI (14) also keep the GBP/USD buyers hopeful.
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