Corona news UK:
The government's coronavirus emergency response fund, set up during last month's budget to provide financial assistance to public services, has been almost tripled to more than £14bn, the chancellor, Rishi Sunak, has announced.
The move comes as the government faces mounting criticism of its response to the pandemic, amid concerns that frontline health workers have not received sufficient protective equipment and that hospitals urgently require more ventilators.
The funds will bolster the NHS and local authorities, the Treasury said, with the addition of £9bn to the initial £5bn fund Sunak announced one month ago.
Technical analysis:
GBPs been trading upwards. The price tested the level of 1.2534. I see potential upside continuation due to the successful breakout of the important pivot resistance at the price of 1.2485.
Trading recommendation:
Watch for buying opportunities on the dips using the hourly or 4h time-frame with the upward targets at the price of 1.2625 and 1.2740.
MACD oscillator is showing strong selling pressure from the background, which is strong sign of the bearish pressure.
Resistance levels are set at the price of .2625 and 1.2740.
Support pivot level is set at the price of 1.2485.
