GBP/USD has been advancing to 1.40 amid a calmer market mood. UK Chancellor Sunak’s budget and progress on US stimulus hold the keys to the next moves, Yohay Elam, an Analyst at FXStreet, reports. Key quotes “UK Chancellor of the Exchequer Rishi Sunak is set to extend the government’s successful furlough scheme through September, in a step that would boost the economy and is already helping sterling. However, corporation tax rises remain a mystery. If Britain hikes levees on companies, sterling’s upside move could stall, while leaving a hole in the budget would allow for further gains” “The Senate is set to begin debating President Joe Biden’s $1.9 covid relief package on Wednesday, and lawmakers are set to strip out or water down some of the measures. If Democrats unite around most parts of the legislation, the dollar could resume its gains, but if the scope falls toward $1 trillion, the greenback could cool down.” “The ADP jobs report is set to show an increase of 177,000 private-sector positions in February, a moderate increase that would be in line with expectations for Friday’s Nonfarm Payrolls. The ISM Services PMI is set to show rapid growth in America’s largest sector – and its employment component is also critical for the NFP. The manufacturing PMI smashed estimates.” “Momentum on the 4-hour chart has turned to the upside, providing ammunition for the bulls, which have also pushed above the 100 Simple Moving Average. On the other hand, the psychological cap of 1.40 looms, and so does the 50 SMA.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next VeChain Price Forecast: VET hints at a 75% bull rally FX Street 1 year GBP/USD has been advancing to 1.40 amid a calmer market mood. UK Chancellor Sunak's budget and progress on US stimulus hold the keys to the next moves, Yohay Elam, an Analyst at FXStreet, reports. Key quotes “UK Chancellor of the Exchequer Rishi Sunak is set to extend the government's successful furlough scheme through September, in a step that would boost the economy and is already helping sterling. However, corporation tax rises remain a mystery. If Britain hikes levees on companies, sterling's upside move could stall, while leaving a hole in the budget would allow for further gains” “The Senate is… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.