GBPUSD ANALYSIS

*GBP/USD Analysis*

The GBP/USD pair has regained the 1.2600 level, driven by the US Dollar's weakness. This weakness is due to:

- Risk appetite: Investors are becoming more confident and taking on more risk.
- Ukraine conflict: A potential truce in the Ukraine conflict is also contributing to the US Dollar's weakness.

However, the pair's upside is limited by:

- Looming US tariffs: The US is planning to impose tariffs on Canadian and Mexican imports, as well as Chinese goods.
- Geopolitical updates: Ongoing tensions between the US and other countries are also limiting the pair's upside.

*Resistance and Support Levels*

The pair is facing resistance at:

- 1.2600: A key psychological level.
- 1.2650: The 100-day Simple Moving Average (SMA).
- 1.2700-1.2710: A key resistance zone.

The pair has support at:

- 1.2560: The 100-period SMA and a Fibonacci retracement level.
- 1.2500: A key psychological level.
- 1.2475: The 200-period SMA and a Fibonacci retracement level.