GBP/USD Dealing with Resistance, FTSE Flat
GBP value, FTSE information and evaluation:
- A downward sloping trendline on the GBP/USD chart remains to be hampering any potential upside transfer, whereas the FTSE 100 continues to commerce sideways.
- Optimistic financial information are encouraging for ‘risk-on’ belongings however they’re being held again by the surge in coronavirus infections within the US.
GBP/USD testing resistance
Any potential upside for GBP/USD is once more being held again by resistance from a downward sloping trendline marking the higher boundary of a channel in place on the charts for the previous three weeks. Reinforcing that resistance is the 50-day transferring common, which at 1.2404 additionally stands simply above the present value.
GBP/USD Value Chart, One-Hour Timeframe (June 3 – July 1, 2020)
Chart by IG (You’ll be able to click on on it for a bigger picture)
From a basic perspective, markets globally are weighing up some constructive financial information in opposition to the surge in coronavirus infections within the US. This session, the June buying managers’ indexes for…