• Add

The Pound’s move towards 1.26 ran out of steam ahead of Sunak’s speech – GBP/USD Market Outlook – 08/07/2020


The Cable surged towards 1.26 yesterday as the increasing odds of a Brexit deal and hopes for further stimulus kept the buyers hopeful. Furthermore, UK Chancellor Rishi Sunak will unveil nearly two billion pounds of employment benefits, tax cuts in attempt to revive the confidence in the government. However, traders will likely sell the fact after the announcement as the news has already been priced in. That said, today’s key negotiation talks in England will likely decide the next wave on the Pound. The buyers will likely remain in control in the short-term in an attempt to test the 1.26 resistance as long as 1.2530 support holds.

Support: 1.2230 / 1.2460
Resistance: 1.26 / 1.2640

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/the-pounds-move-towards-1-26-ran-out-of-steam-ahead-of-sunaks-speech-gbp-usd-market-outlook-08-07-2020
!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}