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Governor Bailey’s speech will be the deciding factor – GBP/USD Market Outlook – 28/08/2020


The Cable held its ground above 1.3160 yesterday despite the volatility caused by Jerome Powell’s speech, disregarding the Brexit problems and the surge in virus cases at home. According to senior EU sources, Boris Johnson has less than two weeks to save post-Brexit trade and security talks, or else things could get worse on the Brexit front. Today is Governor Baily’s turn at Jackson Hole as traders will be looking for any updates on inflation, interest rates, Brexit and the furlough scheme. Any downbeat comments from the BOE boss will be enough to drag the Pound towards yesterday’s lows.

Support: 1.3160 / 1.3055
Resistance: 1.3265 / 1.3350

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/governor-baileys-speech-will-be-the-deciding-factor-gbp-usd-market-outlook-28-08-2020
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