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The Pound drops below 1.25 amid risk-off sentiment


Fundamental Highlights

* The Pound prints losses below 1.25, extending Friday’s losses amid risk aversion.
* US-China trade sentiment turns heavy leading the Dollar to find strength.
* Challenges to the UK PM Boris Johnson-led government also weigh on the Sterling.
* A light economic calendar keeps the risk-off sentiment in the driver’s seat.

Technical Analysis

* The 1.26 critical resistance holds and invites the bears back in the game after last week’s recovery. If the 1.24 support level is lost, along with the 50-period SMA, then 1.2330 will be the next target.

Support: 1.24 / 1.2330
Resistance: 1.25 / 1.26

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/the-pound-extends-losses-amid-risk-off-sentiment-gbp-usd-market-outlook-04-05-2020
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