Further upside for the Pound?
GBP/USD has fallen off this morning highs as many investors take profit, bulls remain in control above 1.3080 as the Dollar remains under pressure.
Price is currently very volatile with short spikes & troughs offering many scalping opportunities.
A strong breach of either support & resistance level would see more clarity on the medium term direction of the pair.
As seen on the 4hr chart price is very much in the uptrend & outside overbought territory.
UK restrictions could cap gains but hopes that a Biden win will help seal a Brexit deal is keeping the Pound Bid.
The United States nears 10 million coronavirus cases & new President Biden has announced a new Covid-19 task force to stem the spread.
Pfizer today confirmed it’s vaccine is more than 90% effective at preventing covid-19 which will help boost sentiment.
To put in context the Flu vaccine is 40 to 50% effective, this is a major breakthrough & may see a further sell-off for the safe-haven Dollar as investors keep risk on appetite.
Support: 1.3140 – 1.3096
Resistance: 1.3203 – 1.3234
Price is currently very volatile with short spikes & troughs offering many scalping opportunities.
A strong breach of either support & resistance level would see more clarity on the medium term direction of the pair.
As seen on the 4hr chart price is very much in the uptrend & outside overbought territory.
UK restrictions could cap gains but hopes that a Biden win will help seal a Brexit deal is keeping the Pound Bid.
The United States nears 10 million coronavirus cases & new President Biden has announced a new Covid-19 task force to stem the spread.
Pfizer today confirmed it’s vaccine is more than 90% effective at preventing covid-19 which will help boost sentiment.
To put in context the Flu vaccine is 40 to 50% effective, this is a major breakthrough & may see a further sell-off for the safe-haven Dollar as investors keep risk on appetite.
Support: 1.3140 – 1.3096
Resistance: 1.3203 – 1.3234
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