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Pound bulls eyeing to retest 1.40 – GBP/USD Market Outlook – 15/03/2021

SquaredFinancial

The pound bulls attempting to recover and hold above the 200-SMA, amid broad-based USD strength. Today, traders will be waiting on UK PM Johnson’s comments on vaccine news, as he unveils $3 billion stimulus for busses. Reports suggesting that vaccines will be ready for all British adults by early June, boosting the overall sentiment in the marketplace. Technically, the cable needs to break above the 50-SMA (1.3950), for an accelerated move towards 1.40.

Support: 1.39 / 1.3850
Resistance: 1.3950 / 1.40

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/pound-bulls-eyeing-to-retest-1-40-gbp-usd-market-outlook-15-03-2021
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