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Cable bulls remain in control – GBP/USD Market Outlook – 01/02/2021

SquaredFinancial

The cable is trading back above 1.37 amid upbeat market mood after some positive updates regarding the US fiscal stimulus. Additionally, UK’s 600,000 vaccinations a day boosted the risk sentiment, which could support higher prices for the Sterling. Bulls need to break above 1.3745 to open doors for a possible 1.38 retest.

Support: 1.37 / 1.3640
Resistance: 1.3745 / 1.38

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/cable-bulls-remain-in-control-gbp-usd-market-outlook-01-02-2021
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