A moderation in vaccinations and political tensions have weighed on GBP/USD but range support at 1.3670-00 has held with scope for range trading rebounds, according to economists at Westpac. GBP’s pullback is understandable “GBP recent softness, notably versus EUR, coincided with a slide in vaccinations since Easter, partly due to a reduced vaccine supply from India while alternatives are yet to be approved. However, the rollout remains above prior targets and weekly vaccinations are still around 3M per week.” “Regional issues have also resurfaced in recent weeks. Unrest in Northern Ireland over the post-Brexit trade deal may soon be resolved as renewed EU-UK talks progress. Additionally Scottish (and local) elections on 6th May have raised concerns over whether a strong SNP outcome might trigger another ‘once in a lifetime’ Independence referendum. Disruptions to the national, not just the Scottish, economy would set back current recovery prospects and undermine GBP.” “As GBP softened, GBP/USD found solid support in the 1.3670-00 area. However, rebounds are likely to be limited until there is clarity on the 6th May elections.” 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 USD/JPY to extend its fall on a break below 108.65 FX Street 2 years A moderation in vaccinations and political tensions have weighed on GBP/USD but range support at 1.3670-00 has held with scope for range trading rebounds, according to economists at Westpac. GBP's pullback is understandable "GBP recent softness, notably versus EUR, coincided with a slide in vaccinations since Easter, partly due to a reduced vaccine supply from India while alternatives are yet to be approved. However, the rollout remains above prior targets and weekly vaccinations are still around 3M per week." "Regional issues have also resurfaced in recent weeks. Unrest in Northern Ireland over the post-Brexit trade deal may soon be… 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.
