GBP/USD Expected To Fall Lower? - Kakiforex.com - Financial Market Media No. 1 in the World GBP/USD Expected To Fall Lower? GBP/USD Expected To Fall Lower?
InstaForex

June 9, 2021

GBP/USD Expected To Fall Lower?

 The Pound’s previous strengthening is expected to start to gloom again as developments in the UK for economic recovery plans are likely to be slightly affected.


This is due to concerns that have hit the UK again regarding the spread of the Covid-19 variant from India which will hamper UK Prime Minister Boris Johnson's plans for the UK economy to be fully operational on June 21.


The date is likely to be postponed to July 5th.


Investors will be wary of Pound trading while continuing to follow current developments in the UK.




As can be observed by investors on the chart of the GBP/USD currency pair, the price movement is still flat in the price range between 1.42000 and 1.41000.


The 1.42000 level remains a resistance zone that prevents price increases, even the zone also failed to be broken when tested in last week's trading.



Meanwhile, the 1.41000 level is a support for the price from the lower fall.


If the price makes a rise, the resistance zone of 1.42000 needs to be broken before a higher rise will be expected to head to the latest focus level at 1.43000.


For the bearish situation, the price that passes the support level at 1.41000 will fall to test the level of 1.4000 which is in the RBS zone (resistance become support).


On Thursday, the focus will be on US inflation data which is seen to also affect price movements over the weekend.