Analysis Market overview

GBPUSD overview 28.06.2021

Sterling rises on calls for lifting of COVID restrictions.

GBPUSD under the bullish pressure today after Britain’s new health minister, Sajid Javid, said he wants all COVID-19 restrictions lifted as soon as possible. As a former finance minister Javid will be more sensitive to the costs suffered by the economy of lockdowns and therefore more likely to insist on lifting the restrictions – which would be positive for the sterling. Investors this week will also be watching a dispute between Britain and the European Union over post-Brexit trade in Northern Ireland. Daily positive cases have been rising for a month in Britain but accelerated vaccination programme have weakened the link between infections and deaths, with daily fatalities remaining about 20 or lower – making the sterling the relative winner in the eyes of the markets.
Expect buyers on downward corrections.

Next resistance to watch – 1.3990

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