Analysis Market overview

GBPUSD overview 05.04.2021

Sterling rises on hopes for UK economy.

Sterling continues to rise today – under the effect of the widespread sterling optimism after British Prime Minister Boris Johnson said today that everyone in England will be able to take a COVID-19 test twice a week. This is seen as the sterling positive news as the move will help the UK government be more efficient in isolating the covid-19 hotspots and will eventually help UK to stop its spread altogether. This in addition to the very rapid vaccination programme is helping drive GBPUSD up. Johnson is expected to confirm that all retail, outdoor hospitality and hairdressers can reopen on April 12 in England. This is in stark contract to EU where most countries still remain in the grips of the tight lockdown restrictions – highlighting the success of UK’ vaccination programme.

Expect buyers on downward corrections.

Next resistance to watch – 1.3960

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