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GBPUSD hits 8-week high following PM Johnson comments

6:42 PM 5 January 2022

The British pound strengthened significantly during today's session after Prime Minister Johnson announced that there is no need to shut down the country again due to spread of the coronavirus. Also UK government decided to  ease travel restrictions for England which includes:

  •  Pre-departure tests scrapped
  •  Lateral flow test rather than PCR on day 2
  • Requirement to self-isolate scrapped

GBPUSD pair rose sharply during today's session and is currently testing major resistance zone at 1.3600 which is marked with previous price reactions and 23.6% Fibonacci retracement of the upward wave launched back in March 2020. Source: xStation5

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