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GBP / USD is under pressure again

The GBP / USD pair is declining today under the onslaught of the dollar. Since the beginning of the day, the currency pair has dipped by 0.2%.

 

The dollar index strengthened on Thursday after the publication of reports that Pfizer Inc may begin supplying a vaccine against the coronavirus at the end of December. The company is ready to apply for vaccine approval in the coming days.

 

Additional pressure on the GBP / USD pair is exerted by the economic uncertainty in the UK. Investors continue to monitor the process of trade negotiations between London and Brussels, but so far there is no news of progress in the negotiations. Today, the EU leaders will hold a summit at which, among other things, they will discuss issues related to Brexit. Previously, it was assumed that the parties will be able to draft a draft agreement for this meeting, so that EU leaders could discuss it. But, apparently, this document is not yet ready.

 

Yesterday, the UK chief economist said that the economic outlook for the country's economy in the 4th quarter of 2020 remains uncertain due to problems associated with the pandemic and Brexit.

 

On the chart, the currency pair is testing support at 1.3230. We can expect the development of a rollback movement from the current levels, but the medium-term priority is shifting in favor of the development of a downward movement towards the level of 1.3150.

 

  • Resistance levels: 1.3300, 1.3350, 1.3440;

 

  • Support levels: 1.3230, 1.3150, 1.3110.

 

The main scenario is a rollback from current levels to 1.3300 and a downward reversal.

 

An alternative scenario is a decline in the direction of 1.3150 from current levels.

 

The current fundamental outlook is neutral. We consider shorts from the level of 1.3290.

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