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Pound crashes below 1.30 as fears of no-deal Brexit escalate – GBP/USD Market Outlook – 09/09/2020

SquaredFinancial

The Pound trades below 1.30 for the first time since July as fears of no-deal Brexit and recall of the coronavirus-led restrictions weigh on the quote. UK PM Boris Johnson’s fresh restrictions, based on the latest resurgence in the pandemic, are likely to impact the recently picked up economic activities. Moreover, fears of the BOE’s rate cut gains momentum once again and drag the pair lower. Today, any Brexit update will be key to watch, however, if we receive no positive updates from the UK-EU negotiations, then traders will be risking another gloomy day amid this light calendar and risk-averse sentiment.

Support: 1.2950 / 1.2880
Resistance: 1.30 / 1.3055

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/pound-crashes-below-1-30-as-fears-of-no-deal-brexit-escalate-gbp-usd-market-outlook-09-09-2020
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