The Cable bulls tried to push the pair above 1.39 yesterday, but fear of covid resurgence due to the re-opening of the UK economy, capped any upside momentum. Yesterday, Britain’s top medical and scientific advisers said that “Britain is not out of the woods’ on COVID-19 and it won’t be possible to eliminate coronavirus infections and deaths.” Moving on, US Treasury yields becomes the key indicator for traders, if bond yields weakness resumes then the Pound will probably break above 1.39.
Support: 1.3860/ 1.3780
Resistance: 1.39/ 1.3950
