GBP / USD is trading up by 0.3% today thanks to easing pressure from the US dollar (dollar index -0.1%) and encouraging comments from the head of the Bank of England, Bailey.
Andrew Bailey stated today that the second wave of coronavirus will not have such a strong negative impact as in the spring. Economic uncertainty will intensify, but the economic slowdown will be less significant. Certain sectors of the economy still need support.
Bailey also expressed hope for a trade agreement between the UK and the EU, as both sides need it.
There is no important news in the UK economic calendar today.
On the chart, buyers have broken through the resistance at 1.2925. This maneuver opens the way for further growth of quotations towards the level of 1.2990.
The main scenario - a rollback to 1.2905 and an increase to 1.2990.
An alternative option - a rise to 1.2990 from the current levels.
The current fundamental outlook is moderately positive. We consider longs from the level of 1.2905.
Only from November 02nd, 2020, to January 04th, 2021, Deposit Bonus 200% is available for all FortFS clients! Use the advantage to engage for the unique offer within a limited period: activate the deposit bonus and get up to 200% on the deposit amount on your trading account! How to get a Deposit Bonus of […]
Only from 23 to 25 of November, the largest no deposit bonus 100 USD is available for all Forex traders! 🏆 Bonus details: 100 USD maximum withdrawal 75 lots of required trading turnover 2 weeks to try all of the trading conditions Available for cent accounts 📍 How to get the bonus: 1) Register an […]