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.
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
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.
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.
Very interesting comments and points of view from all of you. The Brexit issue will keep affecting the GBPUSD, but lets keep in mind that the FED's shift in monetary policy may also affect the pair since it includes the USD in it.
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