GBP/USD Stabilises Among Fresh Developments

GBP/USD Stabilises Among Fresh Developments

On Tuesday, the GBP/USD opened to an unsuspecting horizon of 1.3080, with a touch of high on intraday (1.388), while barging into the London open. The fortune of the cable turned after the strengthening of the US dollar powered by the threat of coronavirus cases rising in the UK. It touched the heights post-March. 

Speculations are that the Tory government is leading it further through the push to the economy along with the odds citing a soft Brexit strategy. The efforts are stopping the downside of the pair. For the fresh impulse, the traders will need to fix their eyes on the Covid-19, US stimulus package and the Brexit move on Tuesday to evert the risk.

However, the talks on Brexit are likely to resume from August 17. The updates for Japan-Britain and the USA-UK trades will be joining the headlines of the epidemic for offering direction to quotes. Also, for the next trade direction, the market players may need to be watchful of news regarding vaccines and policy of the US. 

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