He GBP/USD has regained ground this Tuesday after the strong setback experienced yesterday Monday. The pair has starred in a rally over 125 pips which has taken him from the intraday low of the Asian session at 1.3504 to new Two-day highs at 1.3631 at the beginning of the American session.
At time of writing, the cross is trading above 1.3625, gaining 0.78% daily, and is approaching the high of last Friday, January 8, when it peaked at 1.3635.
The statements this morning from the Governor of the Bank of England, Andrew Bailey, calling negative interest rates “a controversial issue” they have made the markets think that the BoE will not reduce its rates in future meetings. This, together with the race undertaken by the British government to vaccinate the maximum population In the shortest possible time, it has favored the British pound in its battle against the dollar. The rate of vaccination has increased to 200,000 daily doses, and is expected to increase with the opening of 50 vaccination centers throughout the country. The goal is to have 13 million Britons vaccinated by mid-February.
Niveles GBP/USD
To the upside, the first resistance appears at 1.3635. Once crossed, the barrier will be at 1.3671, the ceiling on January 6, and an intermediate stop before heading to the area 1.3700/05 where are the maximums since May 2018 registered on January 4.
Going south there is support at 1.3500. Below it will be easy to fall into the region of 1.3450, where is the January 11 low. A breakout of this level can lead to 1.3300 / 05, the December 22, 2020 bottom.
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