The pound falls towards 1.38 but remains consolidating within the same range. The virus resurgence fears, pushed UK PM Boris Johnson to keep the lockdown measures, even with receding control, until next October. However, the downside on the GBP will be limited if US bond yields reverses lower. We remain with our buy the dips strategy as long as price remains above 1.38.
Support: 1.38 / 1.3750
Resistance: 1.3855 / 1.39
