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GBP / USD pair today may fall below 1.37

The GBP / USD pair in Asia showed moderate growth, but at the beginning of the European trading session resumed its downward movement due to increased pressure from the dollar.

The driver for the strengthening of the American currency is again the situation on the debt securities market. The yield on 10-year bonds today approached a 14-month high of 1.754%.

Recently a press secretary of Boris Johnson said that the UK continues to implement the previously developed plan to ease quarantine restrictions.

Bank of England member Gertyan Vlige gave an interview to thebusinessdeck.com in which he stated that the regulator will implement a stimulating policy until the country's economy returns to pre-crisis levels. Vlige noted that the Bank of England wants to see stable and strong economic growth. Only after that, the regulator can consider tightening monetary policy.

There is no important news in the economic calendar of Great Britain today. The focus will be on news from the US and the situation on the debt securities market.

On the price chart yesterday, it tested the resistance at 1.3845. We saw a strong pullback downward. The bearish scenario remains the priority.

  • Resistance levels: 1.3845, 1.3935, 1.4000;
  • Support levels: 1.3715, 1.3660, 1.3590.

The main scenario is a decline in the direction of 1.3660.

An alternative option is a breakdown of resistance at 1.3845 and growth in the direction of 1.3935.

The current fundamental background is moderately negative. We are looking for sell signals near the level of 1.3845.

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