Sterling rises on economic optimism.
GBPUSD under strong pressure today amid expectations of a faster economic recovery in Britain thanks to its accelerated ant-COVID-19 vaccination programme. The markets are now staring to favour UK as the relatively better performer in the post-covid area – both in relation to the European Union where – due it its sheer size – vaccination programme cannot be expected to be carried out at the same rate as in the UK and also in relation to USA. Prime Minister Boris Johnson is planning an exit from the country’s third national lockdown, which began on Jan. 5, with the UK economy returning to work over the next five months. Adding to sterling optimism – a study found that England’s third national COVID-19 lockdown is helping to reduce coronavirus infections.
Expect buyers on downward corrections.
Next resistance to watch – 1.3948
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