BRITISH POUND (GBP) CONTINUES TO STRENGTHEN HIGHER THAN US DOLLARS

16.02.2021
Technical Analysis

The United Kingdom, the Pound Sterling (GBP) continued to record gains against several other major currencies especially the US Dollar. International investors are seen confident in the UK administration in facing the BREXIT situation since the beginning of the year causing the GBP to continue to strengthen.

The situation in the UK is still under curfew, but at the same time the vaccination program is in full swing. So far, more than 15 million people there have been given the Covid-19 vaccine, as an important step in curbing the spread of the epidemic.

The government aims to vaccinate another 17.2 million people before entering April this year. The success of this vaccination program will allow the curfew order to be abolished in the near future while opening the economy back to full operation. Prime Minister Borris Johnson is expected to announce the latest decision on the curfew on February 22.

The GBP / USD pair is now soaring to the 1.3900 level as of today. It is expected that the price will continue to rise to the level of 1.4000 before there is a possibility of a slight price correction from time to time.