As soon as new broke out that Nancy Pelosi, the Democratic speaker of the House of Representatives said she was “ready for negotiation” on a new corona virus relief plan, dollar faced a modest sell-off. So far Congressional leaders and the White House have so far failed to agree more fiscal stimulus for the US economy, and talks stalled several weeks ago.
Meanwhile Sterling continues to remains choppy in the midst of fear of second wave outbreak. However few reports of progress being made in ongoing Brexit trade negotiations and the announcement of further fiscal support measures by the Government have aided a recovery in the British Pound against the Euro, Dollar and other major currencies. We think sterling likely to slide further in coming days.
TREND : WEAK BEARISH
Time : 25/09/2020
Pivot : 1.1659
Technical View : LONG ABOVE 1.1679
Target : 1.1699, 1.1707, 1.1725, 1.1758
Technical View : SHORT BELOW 1.1639
Target : 1.1619, 1.1593, 1.1565