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Cable bulls regained 1.36 – GBP/USD Market Outlook – 06/01/2021

SquaredFinancial

Despite the UK reporting 60,916 new covid cases in the last 24 hours, the Cable bulls regained the 1.36 critical level after the USD resumed its fall amid the risk on sentiment in equities. We remain bullish on the Sterling in the short-term, as price could revisit 1.37 today and possibly break above that level if risk sentiment keeps dominating.

Support: 1.36 / 1.3530
Resistance: 1.37 / 1.3750

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/cable-bulls-regained-1-36-gbp-usd-market-outlook-06-01-2021
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