(DAILY NOTION) GBP/USD Settle Around Mid-1.3500s Amid Trump's Covid-19 stimulus, Next Mover: U.S. Stimulus

Source: tradingview

GBP/USD is currently settled around the 1.3560 level. As for today, there are no important economic reports released, forex market traders will be focus on the latest developments of the U.S. stimulus.

Besides that, U.S. President Donald Trump signed a massive Covid-19 relief bill as well as the government funding package into law, which favors the risk amid a light trading session in Asia. U.S. President Donald Trump tried to increase the stimulus check from $600 to $2000 per person. It remains to be seen whether he will continue to push for this change.

The global market is likely to move at in slow pace during the final week of 2020 as headlines still concerning the Covid-19 virus and U.S. stimulus that may move the market.

The RSI indicator shows that the GBP/USD pair is in moderate territory which has a chance to gain upward momentum. Analyst forecast that GBP/USD will move to the December high at 1.3625 if settle above the resistance level of 1.3560. On the support side, the GBP/USD will move towards the next support at 1.3500 if the pair declined below the 1.3540 level. A move towards 1.3500 will push GBP/USD to get below the support level at 1.3485.

FOLLOWME GBP/USD Overall Sentiment (As of 03:40 p.m., Dec 28, 2020),

Short - 44.35%

Long - 55.65%