2020-08-28 17:05
Market analysisGBP/USD Outlook (28 August 2020)
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Market analysis：
Overall, GBP/USD is trending upwards.
Bank of England Governor Andrew Bailey will be speaking at the Jackson Hole Symposium later at 2105 (SGT). During this time, volatility is expected.
UK banks will be closed next Monday in observance of Summer Bank Holiday. Expect lower trading volume and volatility.
Currently, GBP/USD testing the resistance zone of 1.32200 and the next support zone is at 1.30000.
With the risk-on rally sparked by the FOMC’s adoption of Average Inflation Targeting and the optimistic view of the U.S. economy, look for short-term buying opportunities of GBP/USD if it breaks the resistance zone of 1.32200.
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GBP/USD Outlook (28 August 2020)
Singapore | 2020-08-28 17:05Overall, GBP/USD is trending upwards.
Bank of England Governor Andrew Bailey will be speaking at the Jackson Hole Symposium later at 2105 (SGT). During this time, volatility is expected.
UK banks will be closed next Monday in observance of Summer Bank Holiday. Expect lower trading volume and volatility.
Currently, GBP/USD testing the resistance zone of 1.32200 and the next support zone is at 1.30000.
With the risk-on rally sparked by the FOMC’s adoption of Average Inflation Targeting and the optimistic view of the U.S. economy, look for short-term buying opportunities of GBP/USD if it breaks the resistance zone of 1.32200.
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