fxstreet.com 03 Feb, 2021 07:00 am

Progress on US stimulus is key to another move higher

Progress on US stimulus is key to another move higher
GBP/USD has been holding onto high ground amid Britain's rapid vaccination campaign. As FXStreet’s Analyst Yohay Elam notes, sterling needs a Biden bo

As FXStreet’s Analyst Yohay Elam notes, sterling needs a Biden boost set to break above the bullish triangle.” “Pound/dollar is trading in an ascending triangle, which is a bullish pattern according to technical textbooks.Will Democrats and Republicans repeat the neverending talks seen in the latter part of 2020 or will they strike a quick deal?The safe-haven dollar would fall if there is a quick deal and rise on reports of protracted talks.

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