A worthy opening for GBP/USD amid the de-escalation of the Russian-Ukrainian conflict. Bears may be on the ropes due to geopolitical tensions causing a risk-off tone. The UK Market Services PMI could increase volatility in an already uncertain market. In spite of negative developments in Russia-Ukraine tensions over the weekend, the GBP/USD price attracted significant demand near 1.3580. There have been increased expectations of a possible Russian invasion of Ukraine due to a surge of troops by Moscow and separatists near Ukraine’s eastern region. However, the French President calls for a Biden-Putin summit that de-escalates the tension. –Are you interested in learning more about STP brokers? Check our detailed guide- Market sentiment has been devastated by NATO’s constant warnings that Russia could attack Ukraine. Furthermore, Russia and Belarus have extended their exercises despite their agreement to halt these exercises on Sunday. On the one hand, Moscow demands guarantees that the North Atlantic Alliance will not accept Ukraine. But, on the other hand, it would threaten Putin Square from the Ukrainian President Volodymyr Zelenskyy, who has requested security guarantees against the Kremlin from Western leaders. A lack of clarity in the geopolitical picture prevents investors from finding an asset to add due to the wide range of ticks but in a limited range. The issue of risk aversion on the part of investors continues to develop in this regard. Meanwhile, rising bets on the Federal Reserve’s aggressive monetary policy will put a damper on the Cable’s growth. Despite headlines regarding tensions between Russia and Ukraine, the UK Purchasing Managers’ Index (PMI), released by the Chartered Institute of Purchasing & Supply and Markit Economics, is expected to keep investors on their toes. According to market expectations, the Markit Services PMI is expected to increase from 54.1 to 55.2. Get FREE Forex Signals Now! GBP/USD price technical analysis: Bulls charged The GBP/USD price has been able to gain back above the 1.3600 mark. The next important resistance is a double top at 1.3641. If broken, the pair will aim at the 1.3700 handle which is another key level. However, the recent gains have not been supported by the volume data. The fall on Friday was led by a rising volume, while today’s gains look like a minor up wave. –Are you interested in learning more about forex robots? Check our detailed guide- On the other hand, the key SMAs on the 4-hour chart are sloping up, lying one above another. It shows strong bullish behavior. Perhaps, we see some correction before a meaningful bullish breakout occurs in a London session. Looking to trade forex now? Invest at eToro! Trade Forex Now! 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Majors share Read Next Free Forex Signals and Forecast: Sell EUR/USD – 21 Feb 2022 Olimpiu Tuns 2 months A worthy opening for GBP/USD amid the de-escalation of the Russian-Ukrainian conflict. Bears may be on the ropes due to geopolitical tensions causing a risk-off tone. The UK Market Services PMI could increase volatility in an already uncertain market. In spite of negative developments in Russia-Ukraine tensions over the weekend, the GBP/USD price attracted significant demand near 1.3580. There have been increased expectations of a possible Russian invasion of Ukraine due to a surge of troops by Moscow and separatists near Ukraine's eastern region. However, the French President calls for a Biden-Putin summit that de-escalates the tension. -Are you interested… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.