GBPUSD TAKES RETURN FROM 1.3358 RESISTANCE
While the US markets were closed due to "Thanksgiving" yesterday, there was a short-term appreciation on dollar assets. Thus, the protected attacks against the 1.34 level in the parity failed to test above this level and was subjected to a slight retracement momentum. While the markets were closed, there is no data flow to follow today. However, the depreciation on dollar assets increased due to the weak performance of the data flow announced in the US at Wednesday's session.
British Prime Minister Boris Johnson made a statement that the European Union will decide the fate of the Brexit process. On the other hand, national restrictions expire on December 2 in England. However, the government announced that it will continue to pursue its three-tier measures as a high threat group after the restrictions end. British Finance Minister Sunak announced that while predicting a contraction of 11.3 percent in the economy in 2020, he expected an increase of 5.6 percent for 2021. In addition, Sunak announced that it expects unemployment to be 7.5 percent next year. The Irish Prime Minister, on the other hand, announced that good results are possible in the trade talks between the UK and the European Union. While uncertainties regarding the Brexit process continued to be preserved, maintaining optimistic expectations about this process kept the Sterling side strong. However, today, with the depreciation on the Sterling side, the pair has retreated to 1.33 with a decline from 1.3358.
Following all these developments, the GBPUSD parity, which failed its attacks towards the 1.34 level, continues pricing around 1.33. Especially with the break of 1.34 in the pair, the gains could continue to 1.3515 and 1.36 resistance levels. However, due to the intensification of the decreases on the returns from 1.3358 in the pair, we are following the retracements within the framework of the support levels 1.3250 and 1.3155.