(DAILY NOTION) GBP/USD Reached Yearly Highs, Reclaim the 1.3700 Level, Next Mover: U.S. Stimulus

Illustration photo of GBP/USD daily chart from Tradingview

GBP/USD is currently trading at around 1.3640, settle at above yearly highs. GBP/USD pushed towards the new 32 months top thanks to the UK Parliament approved the Brexit deal.

There isn't any market-moving economic data release from the UK today. As for today, forex traders will focus on the U.S. stimulus news. Traders will beat on the additional stimulus in 2021 as Senate is not expected to vote on $2,000 stimulus checks this year, putting the U.S. dollar under pressure. That being said, developments surrounding coronavirus might still influence some volatility as well as the market risk sentiment.

As reported by Vladimir Zernov, He pointed out that GBP/USD will move towards the next resistance level at 1.3665 if the pair managed to settle above 1.3640. GBP/USD will push towards the next resistance level at 1.3710 if successful test the level at 1.3665.

On the support side, He pointed out that GBP/USD will settle at the support level of 1.3575 if the pair move below 1.3625. It will head towards the next support level at 1.3540 if declines below the support level at 1.3575.

FOLLOWME GBP/USD Overall Sentiment (As of 04:50 p.m., Dec 31, 2020),

Short - 36.14%

Long - 63.86%

For information please refer to Vladimir Zernov.