Decisions to be made at various levels
There are key levels I will be looking at to make trading decisions. On Friday 5th after NFP data assisted in reinforcing the bullish strength of GBP with the USD treasury yields weakening the Yen, higher price levels at around 139.360 were rejected. The UK economy is back up with the opening of schools, markets, and car showrooms which is an important first step towards kickstarting the economy but there are potential stumbling blocks fundamentally that could see the british pound hesitate to hit higher heights if the UK government/country fail to be cautious. This can lead to price retesting lower support/swing level at 137.380 before potentially heading up. If price finds support at 138.800 then I will be looking at bulls continuing their run.
Keep in mind though scientists are now warning the government to prepare for a deadly second wave of coronavirus, as officials mull localised lockdowns and leaders in the North tell of fears of building outbreaks.
Secondly businesses have been warned they have just a few days to decide if they will make roles redundant as changes to the furlough job salary scheme by chancellor Rishi Sunak.
Keep in mind though scientists are now warning the government to prepare for a deadly second wave of coronavirus, as officials mull localised lockdowns and leaders in the North tell of fears of building outbreaks.
Secondly businesses have been warned they have just a few days to decide if they will make roles redundant as changes to the furlough job salary scheme by chancellor Rishi Sunak.
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