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Risk-On Sentiment pushing the Cable above 1.27 – GBP/USD Market Outlook – 21/07/2020

SquaredFinancial

The Sterling extends its gains above five-week highs after the global markets cheer the European policymakers’ agreement over 750 billion Euros of the aid package. The buyers will attempt to break above 1.27 today if risk-on sentiment remains the main market driver. On the other hand, the sixth round of the EU-UK Brexit talks will resume today, any further disappointments will likely weigh on the Cable and limit the upside.

Support: 1.2650 / 1.26
Resistance: 1.27 / 1.2750

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/risk-on-sentiment-pushing-the-cable-above-1-27-gbp-usd-market-outlook-21-07-2020
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