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GBPUSD overview 03.05.2021

GBPUSD rises on UK vaccination success.

GBPUSD rising today as the result of the widespread sterling bullish sentiment after the market’s focus has shifted toward the relative differential in how successful UK and USA have been in containing the covid-19 epidemic. UK reported close to 1689 cases over the past day – while USA reported nearly 30 thousand new cases – with a lot more hospitalisations per million (UK also compares quite favourably to EU in this regard as well). – highlighting the success of UK vaccination campaign. The other factor pressuring the pair up is the moderate USD bearishness on the dovish Fed – ahead of more economic data releases later this week.

Except buyers on downward corrections.

Next resistance to watch – 1.3980

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