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The British currency continues to surprise the market. The pound, breaking through the resistance levels, confidently moves to new heights. Experts expect a further rise, meeting market expectations.
Recall that in the middle of the week, the pound "shot" on the news because of the belief on the victory of the Conservative Party of Great Britain, and on Thursday, December 5, it continued to grow actively. The British currency broke the barrier of 1.3100 - a level that has been beyond its control since May 2019.
On the morning of Friday, December 6, the pound, set to win, began with an update of local highs. Currently, the GBP / USD pair is trading in the range of 1.3161–1.3162, trying to break through to new heights.
However, the path to the ascent was thorny. However, the path to the ascent was thorny. After a while, the GBP / USD pair fell to 1.3150-1,1.3151, disturbing the market. Nevertheless, experts believe that in the near future, the pound will recover.
According to experts, the GBP / USD pair is moving in the direction of the correctional level of 1.3378, methodically overcoming the obstacles that arise. On this way, small declines are possible, but experts are confident in the consolidation of the upward trend. Experts do not rule out the emergence of a new trend corridor of the pound in the near future.
Financial analysts are a little worried about the fact that the sympathies of most Britons have shifted towards Prime Minister Boris Johnson. Experts remind that in August 2019, the fall of the pound to multi-year lows was provoked by the arrival of the said politician to power. Recall that at that time, the GBP / USD pair cruised near the lowest values in the last 30 years.
This month, the dynamics of the British currency has undergone dramatic changes. The pound rose by 10% against the dollar and the euro, strengthening the position of B. Johnson to his advantage. Experts believe that the reason for this sympathy is connected with the hopes of the British for a successful resolution of the situation around Brexit. Economists conclude that the confidence in the victory of the Conservative Party accelerates the implementation of initiatives regarding Brexit, which is very favorable for the market in general and for the pound in particular.
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