European shares fell on Monday as rising COVID-19 infection rates in Europe prompted renewed lockdown measures in some countries, casting doubt over the economic recovery, with a lack of U.S. stimulus also weighing on sentiment.
GBP/USD: pair to test the next support
The market is consolidating between the 55 and 89 Moving Averages. It's likely that the pair is going to test the next support at 1.2910 - 1.2854 in the coming hours. If a pullback from this area happens next, bulls will probably try to reach the nearest resistance at 1.2946 - 1.2957.
There's a 'Pennant' pattern, which has been broken. So, we should keep an eye on the nearest support at 1.2889 - 1.2854 as an intraday target. The subsequent pullback from these levels could be a starting point for an upward correction.
The U.S. Commerce Department said it will issue an order Friday that will bar people in the United States from downloading Chinese-owned messaging app WeChat and video-sharing app TikTok starting on September 20.
US stock markets tumbled at the opening on Thursday as the Federal Reserve's warnings about a slow recovery from the pandemic.
UK's Raab supports that virus restrictions are serious, proportionate
The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.
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