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The path of least resistance remains to the upside – GBP/USD Market Outlook – 22/02/2021

The Pound dips back below 1.40 amid rising US bond yields. However today, UK PM Johnson is set to lay out a highly-anticipated reopening plan later in the day, which will likely boost the pair higher with optimism. Also, UK’s Health Minister Matt Hancock said that they are confident that the vaccination program will free the country from lockdown sooner than planned. Therefore, buying the dips remains our strategy for now, targeting much higher than 1.40.

Support: 1.3984 / 1.3940
Resistance: 1.4050 / 1.41

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SquaredFinancial Review

Monday, 22 Feb, 2021 / 9:33

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Source : https://www.squaredfinancial.com/learn/daily-market-outlook/the-path-of-least-resistance-remains-to-the-upside-gbp-usd-market-outlook-22-02-2021

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