GBP / USD PAIR MAY RISE TO 1.3600 LEVEL

14.12.2020
Technical Analysis
14th Dec. - The GBP / USD pair continues to show a positive increase in 2020. Since March 2020, the GBP / USD pair has jumped more than 2000 pips of movement, starting from around 1.1410 and is currently at the level of 1.3220.

The surge comes as the Covid-19 pandemic situation is not in line with the value of the US Dollar where the United States is the country most severely affected by this pandemic. Furthermore the geopolitical factors and the choice of monetary policy by the Federal Reserve do not support the strengthening of the US Dollar.

It is expected that prices will continue to rise to the highest level during the BREXIT event in 2016 which is around 1.3600. The price is currently in the middle line of the Bollinger Bands and is above the Moving Average period 14 line indicating the BUY momentum is still strong at this point.