GBP/USD is showing mild strength at $1.29658, moving above a critical pivot at $1.29577. This level also aligns with an ascending triangle pattern, adding a supportive foundation for potential gains.
Immediate resistance is found at $1.29945, closely followed by $1.30135, while support sits nearby at $1.29291. The 50-day EMA at $1.29633 bolsters the bullish sentiment, though the 200-day EMA at $1.29940 suggests a cautious approach.
A sustained move above $1.29577 keeps the outlook positive, but a slip below could trigger sharper selling pressure.
Euro Rises as German Business Climate Improves
The Euro gained modest support on Friday, bolstered by Germany’s ifo Business Climate Index, which rose to 86.5 from a previous 85.6, signaling slight optimism among German businesses.
Spain’s unemployment rate also improved to 11.2%. However, M3 Money Supply growth softened to 3.2% year-over-year, hinting at limited liquidity expansion.
With no major Eurozone events scheduled today, EUR/USD is likely to respond to broader market movements and USD fluctuations.
