GBP/USD analysis: Finds resistance near 1.3900
During the early hours of this week's trading, the GBP/USD currency exchange rate bounced off the resistance of a zone that surround the 1.3900 level. By the middle of Monday's trading, the rate was expected to look for support near the 1.3850 level.
GBP/USD remains sidelined below 1.3900 amid coronavirus woes
GBP/USD fades late Monday’s bounce off 1.3839 around 1.3880 during the initial Asian session on Tuesday. In doing so, the cable pair struggles for clear direction as bulls as bears jostle over mixed clues. While upbeat UK retail sales and hopes of unlock back the buyers, PM Boris Johnson’s cautious comments and Brexit woes tease the pair sellers of late.
As per the latest British Retail Consortium (BRC) data, per Reuters, sales in the second quarter of 2021 were 28.4% higher than a year earlier and 10.4% higher than two years before.
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