FX.co ★ GBP/USD analysis for December 02, 2020 - Buyers got trapped and potential for strong downside movement towards 1.3200

Vaccines should absolutely be on voluntary basis

• We have no ambition to make vaccines mandatory
• Strongly urges people to take up the vaccine
• Vaccine approval is not the end of the struggle against the virus
• It is important people do not get hopes up too soon about speed of vaccine rollout

Johnson is managing expectations as the vaccine hype in the UK is starting to generate waves across mainstream and social media. He also acknowledges that there will be logistical challenges to distribute the vaccine, so at least he is being somewhat honest.

Further Development

Analyzing the current trading chart of GBP/USD, I found that the buyers got trapped today on the breakout of the multi day balance and resistance at 1,3400

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Natural Gas and Platinum today and on the bottom Ethanol and Cocoa.

Key Levels:

Resistance: 1,3440

Support levels: 1,3193 and 1,3110