(DAILY NOTION) GBP/USD - Pound is Under Pressure at the Beginning of the Week, Next Mover: U.S. Stimulus Vote Results & Brexit Deal

Source: tradingview

The Sterling pound is under serious pressure at the beginning of the week. GBP/USD is currently trading below at 1.3300.

The new Covid-19 strains found in Britain was out of control, put British pound under serious pressure. It is found that the strains is more infectious and most of the European countries has closed its boarder for travelers.

Other than that, the talks between EU and UK failed to reach consensus on the Brexit deal. Negotiation about the fisheries and level playing field have failed to find any compromise on these issues for many months.

Analyst forecast that GBP/USD will move to the next support at 1.3250 if successfully tested the support level of 1.3280. On the upside, GBP/USD will move towards the next resistance level at 1.3485 if GBP/USD manage to settles above 1.3440.

By looking at the FOLLOWME Overall Sentiment (As of 4:20 p.m.), the overall sentiment of FOLLOWME traders in the GBP/USD leans towards short-selling with a ratio of 31.13% while the rest of 68.87% is long position.