The Pound is trading below 1.34, pulling back from its new 2020 peak of 1.3482 as the Dollar recovers some of its Fed-fueled losses. Yesterday, the UK officials have said that it will be difficult to finalize a free trade agreement with the European Union before the no-deal deadline at the end of this year, weighing further on the Cable’s sentiment. Today, BOE’s Bailey will be giving a speech concerning the “Economic impact of coronavirus.” Therefore, his comments will be the key to watch. From a technical perspective, the bulls remain in control as long as they defend the 1.3350 support. If that level is lost, then 1.33 will the bears’ next target.
Support: 1.3350 / 1.33
Resistance: 1.3450/ 1.35
