At present, the GBP/USD is trading below 1.3150. It has consolidated its losses after British polls revealed that the Conservative are in the lead for UK elections.
Here are the important figures:
POUND RATES
GBP/USD 1.31 50 1/ 51 1
-0.00384 (-0.29%)
EUR/GBP 0.84 24 3/ 25 4
0.00126 (0.15%)
GBP/JPY 142.94 70 0/ 20 0
-0.49850 (-0.35%)
Technical Analysis of the situation show that support is at 1.31. In the spring, 1.3080 played a role. Further support is at 1.3013, October's peak; on the other hand, 1.2985 was the high for November. Market participants would be wise to keep tabs on the lines: 1.2950, 1.2885, and 1.2870.
Meanwhile, resistance is at 1.3180. This is a considerable swing high earlier this week, leading to a new seven-month high of 1.3215. The next lines to watch out for are 1.3275 and 1.3380.
Japan's industrial output is expected to recover in June from a double-digit decline in May amid hopes that factory activity may have reached its lowest due to the coronavirus pandemic, according to a Reuters’ poll of 13 economists. While ...
Gold prices were down slightly on Wednesday in Asia, losing gains made in a previous session. However, the safe haven asset’s losses remained limited as COVID-19 worries mounted on top of worsening U.S.-China relations. Gold futures ...
British multinational investment bank HSBC saw its shares slump as low as 3% on Wednesday as the U.S. contemplates measures to sanction banks in the city, as well as de-pegging the Dollar from the Hong Kong Dollar. HSBC shares fell by 2.72% ...
Taiwan's exports for June has been forecasted to have dropped by 3% in contrast to a year earlier, according to a median forecast of 13 analysts polled by Reuters. The results are based on the uncertainties of the COVID-19 pandemic as it continues ...
Great Britain’s economy was seen dropping at its most rapid pace in centuries. This was mainly from the disruptions brought by the virus crisis on demand. However, it has a high chance of recovering from inactivity next quarter as more ...