GBP/USD TREND

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GBP/USD is trading near its support level that is around 1.2 100 mark.  As we all know that Great Britain’s economy has capability to regain its stability quickly.  Gbpusd was  trading around 1.2500 mark few weeks back.  Due to the current pandemic lockdown the Great Britain has suffered economic instability resulting in weak demand and supply chain.  It is also ascertained that the unemployment rate has tremendously increased in Great Britain by almost 50% where as the earning capacity of any individual in Great Britain has substantially increased by almost 50%.  The people of Great Britain are strongly opposing the lockdown imposed on them.  




It is also noticed that the dollar index has increased substantially in the previous week resulted in downward Trend of GBP.  It is also envisage that the GBP will regain the mark of 1.2500 in the coming weeks.  Since there is no economic data are anticipated on Monday gbpusd will be trading around 1.2200 mark or it may slide further down to 1.2050 on the other side. It is very much anticipated that the gbpusd may regain the position of 1. 2200 mark on Monday or Tuesday this week.  It is very much anticipated that the gbpusd will remind bullish during this week.

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