The GBPUSD is gaining traction within the 1.3800 level and above the red Tenkan-sen line, which has kept the bulls in check in recent weeks, marking its third straight green day. The technical indications support the price’s increasing positive traction. The RSI has bottomed in the oversold area and is poised to print a new higher high, while the Stochastics is moving above its 20 oversold levels as well. Continue reading…
On Monday, the British Pound rose 43 pips, or 0.31 percent, against the US Dollar. During Monday’s trading session, the currency pair broke through the 200-hour simple moving average at 1.3859.
Bullish traders are anticipated to continue to force the exchange rate higher during the next trading session because the 55-, 100-, and 200-hour SMAs are all below the current price level. The GBP/USD pair’s likely aim will be near the weekly R1 at 1.3940. Continue reading…
When, if not now, will it be? That was the gist of Prime Minister Boris Johnson’s message when he announced that July 19 would be “Freedom Day.” In what has been nicknamed the “Big Bang,” England will remove hundreds of COVID-19-related limitations and reopen its economy. Sterling has responded with a cheer.
Will this zeal continue? Johnson’s remark came after the United Kingdom reported over 27,000 coronavirus cases in a single day, as well as an increase in hospitalizations. Health Secretary Sajid Javid predicted that by mid-summer, infection rates might reach 100,000 per day, resulting in 15,000 additional deaths, according to expert Neil Ferguson’s figures. Continue reading…/n
