Analysis Market overview

GBPUSD overview 08.02.2021

Sterling falls on darkened risk sentiment.

Sterling under the bearish pressure today – along with the other major currencies – largely as the result of the strengthened dollar bullishness on the deteriorated risk sentiment globally after South Africa halted AstraZeneca vaccine after shots failed against new Covid-19 variant. South Africa stopped Monday’s rollout of AstraZeneca’s COVID-19 vaccinations after data showed it gave minimal protection against mild infection from one variant, raising fears the fight with the virus is far from over and the actively used vaccines might not be able to stop the global pandemic. AstraZeneca responded it believed its vaccine could protect against severe disease – which is still not enough to calm the safe-haven inflows in US dollar at the moment.

Expect sellers on upward corrections,

Next support to watch – 1.3665

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