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Brexit optimism pushing the Pound higher – GBP/USD Market Outlook – 18/11/2020

SquaredFinancial

The Pound rallied above 1.3225 as expected after reports indicated that the UK and the EU could reach a Brexit divorce agreement by the beginning of next week. Adding to this, the Fed Chair Powell said that there was a long way to go to economic recovery and also warned about the significant downside risk amid the resurgence of coronavirus cases in the United States, pushing the Dollar lower. Today, the bulls are targeting 1.33 and 1.3330 as their next short-term target.

Support: 1.3225 / 1.3170
Resistance: 1.33 / 1.3330

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/brexit-optimism-pushing-the-pound-higher-gbp-usd-market-outlook-18-11-2020
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