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Negative rate talks and Brexit uncertainty kept the Pound under pressure: GBP/USD Market Outlook – 25/05/2020

SquaredFinancial

The British Pound caught a breather amid a lack of major catalysts on Spring Bank Holiday, however the pair remains under pressure as US-China tension intensifies with eyes on US President Trump’s reaction over the Hong Kong issue. Moreover, negative rates talks and Brexit uncertainty will keep the Cable weaker against the greenback. From a technical perspective, the bears will remain in full control as long as price is printing lower-highs and lower-lows and the 50-period SMA keeps acting as resistance.

Support: 1.2170 / 1.2075
Resistance: 1.2240 / 1.2270


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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/negative-rate-talks-and-brexit-uncertainty-kept-the-pound-under-pressure-gbp-usd-market-outlook-25-05-2020
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