The GBP/USD currency exchange rate bounced off the resistance of a zone that surrounds the 1.3900 level in the early hours of this week’s trade. The rate was projected to find support near the 1.3850 level by the middle of Monday’s trade.
Continue reading…
During the first Asian session on Tuesday, the GBP/USD fades the late Monday rally around 1.3839 around 1.3880. As a result, the cable pair struggles to find a clear direction as bulls and bears compete for mixed signals. While solid UK retail sales and prospects of re-engaging buyers are encouraging, Prime Minister Boris Johnson’s cautionary words and Brexit problems have been teasing the pair lately recently.
According to Reuters, sales in the second quarter of 2021 were 28.4% more than a year ago and 10.4% higher than two years ago, according to the latest British Retail Consortium (BRC) figures.
Continue reading…/n
