GBP/USD Outlook (29 May 2020)
Overall, GBP/USD is trending downwards. Recently, GBP/USD bounced off the support level of 1.22400.
Yesterday, Bank of England committee member Michael Saunders expressed pessimism in the UK’s economy, saying that it is unlikely to recover fully from COVID-19 in the next couple of years.
Currently, GBP/USD is testing the support level of 1.22400 and its next resistance level is at 1.24400.
Look for short-term buying opportunities of GBP/USD.
Yesterday, Bank of England committee member Michael Saunders expressed pessimism in the UK’s economy, saying that it is unlikely to recover fully from COVID-19 in the next couple of years.
Currently, GBP/USD is testing the support level of 1.22400 and its next resistance level is at 1.24400.
Look for short-term buying opportunities of GBP/USD.
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