GBP / USD jumped another 150 pips earlier in the week - Kakiforex.com - Financial Market Media No. 1 in the World GBP / USD jumped another 150 pips earlier in the week GBP / USD jumped another 150 pips earlier in the week

May 11, 2021

GBP / USD jumped another 150 pips earlier in the week

 The GBP / USD currency pair surprised traders if prices spiked higher in trading earlier this week.


The expected weak performance of the US dollar will continue this week after a disappointing US NFP jobs report, which prompted an initial surge of around 100 pips last Friday.


However, prices continue to rise higher earlier in the week if the Pound Sterling triumphs despite the risks ahead of the Scottish highway options at the end of the week.


The SNP party that won its choice is expected to hold a new referendum and the situation was previously seen as putting Pound Sterling trading at risk.


However, UK Prime Minister Boris Johnson appears to be a savior if he announces an easing of movement restrictions in the UK next week.


The head of the UK change employee also agreed to reduce the Covid-19 warning to a lower level. This continues to underpin the economic recovery factor in the UK.





After that, the price on the GBP / USD chart that broke the 1.4000 hurdle has successfully surged 150 pips overnight to an altitude of 1.41500.


The outlook for prices to continue higher higher is seen also heading towards level 1.42000 which was the price hurdle zone tested last February.


However, investors still need to be wary of the initial downside price situation in case Pound trading returns to risk and fails to sustain the momentum of consolidation.


The 1.40000 RBS (resistance become support) zone is seen to be the main face of support rather than the fall in prices lower.