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GBP/USD to move back below 1.40 if bulls book some profits – DBS Bank

FXStreet reports that economists at DBS Bank discuss GBP/USD prospects. 

“At this level, GBP appears overbought. Apart from a Relative Strength Index reading around 74, GBP is around the top of an ascending price channel established after the November US elections.” 

“While UK research showed that the vaccines sharply reduced hospitalisation and transmissions, Prime Minister Boris Johnson has decided to go slow on easing lockdowns which will be carried out in four stages between 8 March and 21 June.” 

“With the UK economy slow to emerge from the pandemic in 1H21, GBP could return below 1.40 again if the bulls decide to book some profits.”

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