Dovish comments from BoE's Governor Carney that the central bank could cut interest rate again in the event of a 'disorderly' Brexit, would push Pound even further on the downside.
GBP/Usd is trading slightly up before UK PMI figure, found immediate resistance at 1.3375. With the trade war tensions and political uncertainty, the momentum remains directionless.
Although GBP/Usd is trading above 1.34 level, the upside is capped at 1.3450 level while market awaits for further Brexit developments, UK Brexiteers and EU leaders continue having trouble to find a common ground.
Brexit continues to be the main uncertainty in the UK, keep the Pound under pressure. PM still struggles to find common ground on important Brexit issues. This week focus on EU withdrawal bill debate and BoE interest rate decision.
The pair is trading almost flat while Brexit negotiation continues going nowhere. The uncertainty is becoming the nature of Brexit negotiation, it continues to give Pound pressure, bearish potential possible targeting 1.30 level.
BillyBigNoseMembre depuis May 23, 2017 posts 13
Jun 27 2018 at 06:14
I expect the sideways trading to continue until much closer to March 2019. This is likely to be a late minute deal so nothing much will happen until then. There is likely to be a lot of volatility closer to the deadline though
DowntobusinesMembre depuis Jun 28, 2018 posts 10
Jun 28 2018 at 13:32
Pound just keeps on falling from what I can see. I wouldn't be surprised if it goes down to the brexit lows by the end of the year. There is nothing positive about the UK economy or brexit. I doubt interest rates will rise at all now
Dollar strength and uncertainty of Brexit continue to give pressure to GBP/Usd. Some big company like BMW and Airbus has said they would consider leaving the UK if ''no deal'' in recent weeks. Let's focus on further Brexit development this week.
After the UK government decided to choose a softer Brexit, the news decreased the Brexit uncertainty in the short-term. Even the resignation of David Davis could not stop Pounds recovery. Immediate resistance can be seen at 1.3360, move beyond would lead to further upward movement.
SwapTraderMembre depuis Dec 25, 2017 posts 24
Jul 10 2018 at 10:10
Brexit. The exit you're having when you're not having an exit!
Pounds suffered from Brexit uncertainty, somehow what helps the Pound recover were comments from US President Trump said a trade deal with UK post-Brexit is still possible. The pair aims higher, next immediate resistance is at 1.3285.
With latest Brexit proposal has been rejected by EU leaders in Brussels, traders await new Brexit headline while GBP/Usd steady around 1.31. Immediate resistance can be found at 1.3155, the pair will be expected to hold near it for the short term.
Brexit uncertainty continues to weight in making the pair trading almost flat, but I'm hoping BoE possible rate hike will change it.
The lack of progress in Brexit negotiations continue to give pressure to Pounds, UK and EU will resume the Brexit talks in the coming week, the bearish trend is expected to continue.
Brexit uncertainty continues weighing on Pound, the pair remains strong downward slopes, immediate support can be found at 1.2720.
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