The GBP/USD currency pair commemorates the first trading day with the green candle label on the graph, with a price of 1.3998.

The GBP/USD exchange rate is highly valued since it has steadily depreciated from December.

As the backside of the price, there are many support levels, which may assure that the GBP/USD will not fall lower, and these support levels stand behind the pair to raise it over the specified cost, as seen in the chart below.

Let’s speak about the current jump in the GBP/USD pair, which might be due to the US Census Bureau’s update of US non-defense capital goods orders. According to the report, it stayed at 0% in December, compared to the previous month’s record of 0.3 per cent.

The US non-defense capital goods orders data reflects the cost of orders made within the nation with suppliers for the manufacturing of durable products with a minimum life of more than three years.

It’s important to recall that the statistic excludes aeroplane expenses to arrive at impartial figures. Because the cost of durable products necessitates investment, it is an essential economic indicator. A lower US dollar reading is generally negative but signals a favourable GBP/USD market ahead and vice versa.

Conclusion

Considering the steady positive swings over the previous ten trading days, acquiring the GBP/USD pair at current levels might be a sensible trading option in short to medium term.