GBP/USD to enjoy considerable gains on a break above key 1.3640 resistances.

GBP/USD has managed to edge higher early Friday after having closed the previous three days in the positive territory. Investors might want to book their profits ahead of the weekend.“Profit-taking could limit GBP/USD’s upside in the second half of the day but the pair’s near-term outlook remains bullish barring a technical correction.”

“In case GBP/USD rises above 1.3640 and starts using it as support, 1.3660 (static level, January 20 high) aligns as the next hurdle ahead of 1.3700 (psychological level).”“On the downside, 1.3600 (static level, psychological level) could be tested with a technical correction. If that support fails, additional losses toward 1.3560 (200-period SMA) and 1.3530 (100-period SMA) could be witnessed.”

GBP/USD holds above 1.3600 after upbeat UK data.GBP/USD continues to trade above 1.3600 early Friday as the market mood remains upbeat on heightened hopes of a de-escalation of geopolitical tensions. The data from the UK showed that Retail Sales rose by 9.1% on a yearly basis in January.Gold bulls keep eyes on $1,916 amid Ukraine crisis.Gold price remains underpinned by geopolitics, easing 50bps March fed rate hike bets. Blinken-Lavrov meeting next week sparks a ray of hope but tensions still persist.

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