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Cable bulls losing control – GBP/USD Market Outlook – 04/02/2021


The pound drops below 1.36 ahead of the BoE Monetary Policy report, pressured by the US dollar’s recent uptick amid the cautious mood. On the positive side, the UK reaches a 10 million milestone for vaccinations, however, fears of the South African variant is keeping the Pound bulls at bay. Today, the focus will be on the Quarterly Inflation Report and the speech from Governor Bailey. A close below 1.36 could take the pair lower towards 1.3530.

Support: 1.36 / 1.3530
Resistance: 1.3640 / 1.37

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/cable-bulls-losing-control-gbp-usd-market-outlook-04-02-2021
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