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GBPUSD overview 08.06.2021

Sterling falls on reopening concerns.

Sterling falling today as the investors are starting to be concerned about the timing of UK reopening after Matt Hancock, UK Secretary of State for Health of the United Kingdom, said the Government is ‘absolutely open’ to delaying lockdown easing. He acknowledged that the rise in delta variant cases may delay the government’s plan to lift most remaining lockdown restrictions on June 21. He also said he wouldn’t rule out continuing measures such as face masks in public settings and working from home where possible – jeopardising the prospects of the full recovery that has been underpinning sterling for the last weeks. The other part of the pair – USD – is also driving the pair down on the rising USD bullishness on signs the upcoming inflation data from USA might prompt Fed to move toward rising the interest rates in USA.

Next support to watch – 1.4085

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