11:16 AM · 6 April 2021

📉 GBPUSD erases gains from Monday

British pound has made some noticeable gains yesterday after Boris Johnson outlined next steps of the way out of lockdown. However, the move is being erased today with GBP being one of the worst performing G10 currencies. GBPUSD trades around 0.5% lower on the day and pulls back below 1.3900 handle. The pair retreats from the area marked with the upper limit of market geometry as well as the upper limit of the local upward channel. In case downbeat moods prevail, correction may deepen with the lower limit of the upward channel being the first major support to watch.

Source: xStation5

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