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GBP/USD Above 1.32

M. Ali 20 August, 2020 10:53 pm Forex Market, Market Update

The British Pound (GBP) is rising against the US Dollar (USD), on the back of the latter’s decline.

A surge in inflation in the UK and anticipation for a trade deal between London and the European Union (EU) are providing support for the GBP, while an increase in jobless claims in the United States above one million is weighing on the Dollar.

The pair is trading up by 0.72% at 1.3203, moving throughout the day between 1.3210 and 1.3065.

Support Levels: 1.3039 – 1.2980 – 1.2866

Resistance Levels: 1.3212 1.3326 1.3385

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