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The British pound continues to dominate the Brazilian real

Long
FX_IDC:GBPBRL   BRITISH POUND / BRAZILIAN REAL
The British pound continues to dominate the Brazilian real in the sessions. The Latin American currency stood no chance against the pound thanks to the recent promise of the British Prime Minister to rescue the economy. The pair is still extremely bullish and should reach its resistance level by the first half of July as the Brazilian real continues to depreciate. Moreover, it was recently reported that BPM Johnson vowed to spend billions of pounds to help save the United Kingdom’s economy. The British leader tweeted “We want to build our way back to health” sending signals for bullish investors to floor their gas pedals. Johnson promised to step up his agenda and provide people with new opportunities post-coronavirus pandemic. As for Brazilian real, bearish investors are cautiously moving as the country continues to see an alarming number of new confirmed coronavirus cases and death and has just had its worst week yet last week.

𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐁𝐫𝐨𝐤𝐞𝐫𝐚𝐠𝐞 - 𝐒𝐭𝐨𝐜𝐤 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐅𝐨𝐫𝐞𝐱 𝐍𝐞𝐰𝐬 & 𝐅𝐨𝐫𝐞𝐱 𝐁𝐫𝐨𝐤𝐞𝐫𝐬
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