May 26, 2020
GBPUSD In A Mid-Term Uptrend
So far, the government was telling the public to “stay at home”. But recent decreasing numbers of infected cases urged U.K government to lift restrictions next month.
The government is moving to ease the lockdown in order to help gradually get the frozen economy back in motion. Millions of workers lost their jobs during the peak of the coronavirus outbreak and the unemployment jumped to 10%.
U.K. Prime Minister Boris Johnson announced yesterday that by June 15 the economy will be reopened. GBPUSD is reacting positively to this news. The pair is in a mid-term uptrend.
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