GBPUSD Steadies on Lockdown Lifting Optimism

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The British pound sterling, which has already seen a strong bull run got another boost on Tuesday.

The UK Government prepared a roadmap towards re-opening its economy. This puts further upside pressure on the currency pair which is already enjoying a strong rally.

Price action is trading outside the rising price channel currently. With the Stochastics oscillator firmly in the overbought levels, the upside momentum could fail.

Any downside corrections could stall near the 1.3951 level of support for the moment.

Given that the currency pair has been pushing higher on a steady note, we could expect a brief pullback in the near term.

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