GBP/USD under pressure
GBP/USD continues to trade in a narrow range between 1.3008 & 1.3123.
UK GDP figures beat forecast but has had little effect on the market.
UK Finance Minister Rishi Sunak admits ‘the furlough scheme is unsustainable. Also stating the coronavirus crisis will see 'many more lose jobs & hard times ahead’. These comments have dampened sentiment the Pound is on the back foot.
On the upside there has been positive trade talks with the US as both sides committed to completing an agreement.
US inflation data is out at 1.30pm which may bring some volatility.
Support: 1.3008 - 1.2954
Resistance: 1.3123 - 1.3184
UK GDP figures beat forecast but has had little effect on the market.
UK Finance Minister Rishi Sunak admits ‘the furlough scheme is unsustainable. Also stating the coronavirus crisis will see 'many more lose jobs & hard times ahead’. These comments have dampened sentiment the Pound is on the back foot.
On the upside there has been positive trade talks with the US as both sides committed to completing an agreement.
US inflation data is out at 1.30pm which may bring some volatility.
Support: 1.3008 - 1.2954
Resistance: 1.3123 - 1.3184
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