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Pound bulls attempting to recover losses – GBP/USD Market Outlook – 26/02/2021

SquaredFinancial

The Cable fell sharply below 1.40 yesterday, reaching as low as 1.39 and breaking below important trend lines, as US Dollar picks up bids amid the bond market sell-off. Additionally, BOE Governor Bailey expecting a negative first quarter for the economy, might have weighed on the pair also. The bulls will attempt to find support around 1.39 for a push back towards 1.40.

Support: 1.3850/ 1.3780
Resistance: 1.3945/ 1.40

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/pound-bulls-attempting-to-recover-losses-gbp-usd-market-outlook-26-02-2021
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