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Fear of national lockdown kept the Pound under pressure – GBP/USD Market Outlook – 30/10/2020

SquaredFinancial

The Cable drops for the third consecutive day towards 1.29 on chatters of UK national lockdown, breaking below the 1-month bullish trend line. On the other hand, the Brexit deadlock continues as the British government refrains from backing down on the fisheries, keeping the pressure on the Pound. Today, if 1.29 is broken, we could see further weakness towards 1.2865 and possibly beyond.

Support: 1.29/ 1.2865
Resistance: 1.2940/ 1.30

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/fear-of-national-lockdown-kept-the-pound-under-pressure-gbp-usd-market-outlook-30-10-2020
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