The Pound comes out fighting. Overview for 28.01.2021
GBPUSD dropped yesterday but its plan for Thursday is consolidating at least.
The endurance of the British Pound against the USD continues surprising everyone – it falls, although not too much but still remains interesting for bulls at the same time. the current quote for the instrument is 1.3672.
The United Kingdom is preparing for another set of strict border restrictions intended to slow down the coronavirus pandemic in the country. The lockdown was pretty harsh for all sectors of the British economy, that’s why new measures may become a lifesaver the country needs so badly.
For example, implementation of quarantine hotel for those, who arrive in the United Kingdom from the countries with new coronavirus strains, South America and Africa in the first place. Later in 2020, the UK suffered a quick spread of the virus strain that came from the southeast. As a consequence, the pandemic revived and it became known recently that the number of coronavirus-killed people exceeded 100K. The United Kingdom became the first country in Europe to reach this number.
At the same time, the United Kingdom has the highest death rate per 100K in the world.
All these statistics put the effectiveness of epidemic control measures imposed by the British government in doubt. Under such circumstances, the Pound ought to plunge but market players are clearly hoping for the best.