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GBP/USD Rising Above 1.31

M. Ali 25 August, 2020 9:33 pm Forex Market, Market Update

The British Pound (GBP) rose on Tuesday on the back of the US Dollar (USD) decline, despite a decline in the UK’s retail sales.

The Sterling is up against the USD by 0.47% with the GBP/USD trading at 1.3124.

Retailers in the UK have cut jobs at the highest rate since the global financial crisis of 2009, due to more people moving to online shopping amid the preventive measures against the COVID-19 pandemic.

Support Levels: 1.3027 – 1.2993 – 1.2932

Resistance Levels: 1.3122 – 1.3183 – 1.3217

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