After surging to the three weeks - high level of 1.2591 in the previous trading session, GBPUSD is trading in the positive territory on Wednesday as investors await another stimulus package from the British economy. UK Finance Minister Rishi Sunak is expected to announce the 2 billion pound fund including employment benefits, tax cuts and spending vouchers to rescue Britain out of the unemployment crisis amidst the COVID-19 pandemic. As of now, the cable is trading 0.19% higher at 1.2557.
On Tuesday, initially, the increase in the hopes for the global economic recovery after the release of upbeat macro-economic data from the various nations reduced the safe-haven bids for the greenback. Further, investors’ cheered the release of the better than expected monthly UK Halifax HPI statistics.
However, later in the North American session, the pair trimmed some of the gains due to the increasing concerns of the second wave of coronavirus. The number of COVID-19 cases across the globe has surpassed the 11.8 million mark with death tolls to 544K. Subsequently, the pair ended the trading session at 1.2538, with 0.40% gains.
Going forward, investors’ will keep an eye on US 10-y Bond Auction and coronavirus related headlines for intraday trading opportunities.

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