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The Pound remains firm amid risk-on market mood – GBP/USD Market Outlook – 06/10/2020


The Pound looks ready to break above 1.30 as odds favoring no-deal Brexit gradually decrease. UK PM Johnson stays optimistic to overcome the pandemic, however Chancellor Rishi Sunak sounds a bit skeptical as he warns of “hard choices” on tackling UK debt. On the other hand, broad risk-on mood could push the US Dollar lower, paving the way for the Cable for a move higher. The bulls need to take out the 1.30 along with the 200-period SMA for an immediate move towards 1.3050.

Support: 1.2670 / 1.26
Resistance: 1.2760 / 1.2825

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/the-pound-remains-firm-amid-risk-on-market-mood-gbp-usd-market-outlook-06-10-2020
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