British Pound Technical Analysis: GBP/JPY, GBP/USD, EUR/GBP Rates Outlook
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British Pound Outlook:
The British Pound has been hampered by the latest surge in COVID-19 delta variant infections, which have traders on edge that more lockdowns are possible.
Both GBP/JPY and GBP/USD have rebounded from critical technical support, suggesting that further losses may be contained.
Recent changes in retail trader positioning suggest a mostly mixed bias for the British Pound.
Dead Cat Bounce or Second Life?
‘Freedom Day’ has come and gone for this week, but markets don’t appear to be convinced that this marked the ‘beginning of the end’ of the pandemic for the UK. With delta variant caseloads surging in recent weeks, the British Pound has been hampered relative to its major counterparts as traders are on edge that re-opening measures could be reversed.
EUR/JPY IG Client Sentiment: Traders Fade Rebound, Now Net-Short
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Euro Technical Analysis: EUR/GBP, EUR/JPY, EUR/USD Rates Outlook
dailyfx.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyfx.com Daily Mail and Mail on Sunday newspapers.