fundamental News - GBP/USD
GBP/USD picks up bids near the intraday high of 1.3840, up 0.03% on a day, while heading into Monday’s London open. In doing so, the cable cheers the UK’s advantage of faster vaccinations and unlock guidelines to shrug off the US dollar’s bounce off late the lowest since late March.
Having jabbed a considerable British population, UK scientists are
analyzing the risk of getting reinfection on the vaccinated people.
Reuters quoted Helen McShane, a University of Oxford vaccinologist and
chief investigator on the study while saying,
"The information from this work will allow us to design better vaccines
and treatments, and also to understand if people are protected after
having COVID, and for how long.”
Furthermore, the British government will announce the list of
countries safe to travel and are allowed in the UK during the next
month. As per the latest market chatters, only eight countries are on
the list, suggesting hidden fears of virus resurgence.
On a different page, the UK’s medicine providers are tired of red tape
and the associated costs while sending medical supplies to Northern
Ireland, which in turn flashes Brexit risk and can weigh on the Sterling
if magnified.
Alternatively, Europe is struggling with the virus as the global
virus-led death toll climbs above three million. Moving on, US President
Joe Biden’s $2.25 trillion infrastructure spending bill has a tough
road ahead as Republicans push for tax cuts and
spending reduction.
Amid these plays, stock futures step back from the recent multi-day
tops whereas the US 10-year Treasury yields also ease amid a quiet
session in Asia.
Looking forward, the UK’s employment data, up for publishing on
Tuesday, will be the key for the GBP/USD pair but traders shouldn’t
ignore risk catalyst before that.
Technical analysis
Unless staying beyond 200-SMA and the previous resistance line from
April 08, around 1.3825-20, GBP/USD buyers can keep attacking March 19
high near 1.3960.