GBPUSD falling on speculation of negative rates.
GBPUSD under the bearish pressure today – as the markets have shifted their focus from the Brexit negotiations – which helped some of the prior sterling gains – and are now instead focusing on how UK , as the independent player, is going to handle the raving coronavirus epidemic and the resultant economic damage (European member states are more protected in this regard). Particularly strong bearish pressure on sterling is affecting the circulating rumours that the Bank of England could bring in negative interest rates earlier to counter the economic hit from a third coronavirus national lockdown. This coupled with moderate USD bullishness after civil unrest near US Capitol is also driving the pair down.
Expect sellers on upward corrections.
Next Support to watch – 1.3530
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