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GBP / USD is growing due to the weakening of the dollar

The GBP / USD pair is growing today thanks to the decrease in pressure from the dollar.

 

The pound remains under pressure due to uncertainty surrounding Brexit, as trade negotiations between London and Brussels have yet to make progress. But now all the attention of the financial market is focused on the presidential elections in the United States, so the dynamics of the movement of the GBP / USD pair will depend on the fluctuations of the dollar.

 

Earlier, some publications reported that the UK will make the final decision on the strategy for negotiating with the EU after the US presidential elections. If Trump wins, Boris Johnson may decide to leave the EU without an agreement. If Biden wins, London may soften its negotiating position.

 

There is no important news in the economic calendar today.

 

On the chart, the currency pair is testing local resistance at 1.2940. We are waiting for the breakdown of this mark and the growth of quotations to 1.3000.

 

  • Resistance levels: 1.2940, 1.3000, 1.3065;

 

  • Support levels: 1.2845, 1.2800, 1.2690.

 

The main scenario - a breakdown of the level of 1.2940 and an increase to 1.3000.

 

Alternative option - a decline to 1.2845 from current levels

 

The current fundamental outlook is neutral. We consider shorts from levels 1.3000 and 1.3065.

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