GBPUSD is correcting a bit on Friday after skyrocketing yesterday. However, the pair is clearly intending to keep its positive momentum.
The British Pounds is looking even more confident against the USD than before despite today’s correction. The current quote for the instrument is 1.3671.
After getting rid of significant Brexit risk pressure, the Pound has obviously reached some stability. The showdown between British and European politicians really made investors nervous and as soon as this issue was removed from possible market drivers and catalysts, the Pound’s behavior became more confident and understandable.
At the moment, the British currency is supported by the successful start of the vaccination against the COVID-19 in the United Kingdom. Britain was one of the most affected countries that had two lockdowns, that’s why it really needs to get rid of them as soon as possible.
The first results of the vaccination were positive and helped the Pound to update its multi-month highs yesterday. If the United Kingdom gets back in the groove of things by the second quarter of 2020, it will be excellent.
However, the statistics are rather mixed so far. For example, the CPI reports published earlier this week showed some improvement, which was quite good given the circumstances. On the other hand, the GfK Consumer Confidence published yesterday showed -28 points in January after being -26 points the month before. Everything related to consumers and their activity is rather unstable, and that’s a huge risk factor.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.