GBP/USD Selling Near 1.2050 During COVID Crisis in China

GBP/USD is facing mild selling pressure around 1.2050 before London open today. GBP/USD is trying to cheer the impetus hopes during the anxiety of main strikes in the United Kingdom and Coronavirus agitations in China.

A report from Reuter has it that British public-sector pay won’t be able to match the rising inflation. This is so because the country is facing a series of industrial disagreements. This report also has it that industrial disputes are spreading across Britain’s transport network as well. In addition, during the past week, Britain’s Royal College of Nursing trade union published the date that has been picked for its members to go on strike in over one hundred years.

More GBP/USD Price Moving Happenings
United Kingdom major activity figures recorded a downbeat performance for this month (November). This has kept the Bank of England striving for a clear path while hawks are anticipating additional rate increases. Opposite to this background, the S&P 500 futures fell by a percentage while the United States ten-year Treasury bond declined by 5 basis points to 3.65% by news time.

Moving on, risk promoters may entertain GBP/USD traders before Fed’s Jerome Powell’s speech and the monthly job data for this month (November), which will be published on Thursday and Friday respectively.

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