GBP/USD Outlook (02 September 2020)
Overall, GBP/USD is trending upwards. Recently, GBP/USD bounced off the resistance zone of 1.34600 and broke below the key level of 1.34.
Bank of England Governor Andrew Bailey will be testifying about the economic impact of COVID-19 before the Treasury Select Committee later at 2100 (SGT). During this time, volatility is expected of GBP.
GBP/USD’s next support zone is at 1.32200 and the next resistance zone is at 1.34600.
Look for short-term buying opportunities of GBP/USD if it breaks the resistance zone of 1.34600 up until Governor Bailey’s testification at 2100 (SGT).
Bank of England Governor Andrew Bailey will be testifying about the economic impact of COVID-19 before the Treasury Select Committee later at 2100 (SGT). During this time, volatility is expected of GBP.
GBP/USD’s next support zone is at 1.32200 and the next resistance zone is at 1.34600.
Look for short-term buying opportunities of GBP/USD if it breaks the resistance zone of 1.34600 up until Governor Bailey’s testification at 2100 (SGT).