GBP/USD Remains Pressured For Now
GBP/USD continued to be pressured in yesterdays trading session as the continued outbreak of Covid-19 has dampened sentiment helping the safe-haven Dollar.
This morning price bounced 70 pips but met resistance at 1.3185, the lack of follow through may see bears push price back towards support at 1.3091.
Brexit talks continue as we await a breakthrough, any announcement will create volatility as we close in on the second deadline on the 19th of November.
We may see a period of consolidation for now between a range of 1.3091 & 1.3185 a breach of either level could offer further clarity on the longer term direction of the pair.
US Core PPI m/m at 1.30pm & Prelim UoM Consumer Sentiment as 3pm.
Support: 1.3091 - 1.3050
Resistance: 1.3185 - 1.3238
This morning price bounced 70 pips but met resistance at 1.3185, the lack of follow through may see bears push price back towards support at 1.3091.
Brexit talks continue as we await a breakthrough, any announcement will create volatility as we close in on the second deadline on the 19th of November.
We may see a period of consolidation for now between a range of 1.3091 & 1.3185 a breach of either level could offer further clarity on the longer term direction of the pair.
US Core PPI m/m at 1.30pm & Prelim UoM Consumer Sentiment as 3pm.
Support: 1.3091 - 1.3050
Resistance: 1.3185 - 1.3238
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