GBPUSD about to head South Amidst BREXIT Fears?

[csc2009]

Gbp/Usd seems limited to 1.3020/30 zone, continues showing no clear directional strength.

 

[fxstrategist]

There could be a further drop on the GBP/USD, even though at the momment the pair is trying to stall at the 1.2800 zone. To the downside, the 1.2700 level or the 1.2600 level could act as support. To the upside, in order to reverse its bearish trend, the GBPUSD would have to break above the 1.3000 level.

 

[csc2009]

Gbp/Usd has a huge gap up and currently trading just above 1.290 level after Labour policy shift on single market.

 

[csc2009]

Brexit negotiations are showing ''no progress'', so does Pound. The pair is consolidating around 1.2950/60, no clear directional strength.

 

[csc2009]

While the pair maintains strong upward momentum, rising to resistance level at 1.3225, the lack of progress on Brexit talking could hold back the gains this week.

 

[csc2009]

Pound hit the highest since Brexit talk started, found resistance around 1.3615/1.3620 zone. I'm expecting consolidation in the beginning of the week before the pair uptrend extend further.

 

[csc2009]

Gbp/Usd is consolidating lower, upside seems limited to 1.3660 level. Brexit talks still lack of progress, eyes turn to UK PMI this week.

 

[csc2009]

The lack of a clear Brexit strategy continue drive the pair down, limited upward correction movements while Gbp/Usd is still holding above 1.3000 psychological handle.

 

[csc2009]

This week all focus on the EU summit and Theresa May's 'emergency' trip to Brussels on Monday, it's all about Brexit these days.

 

[csc2009]

Gbp/Usd is neutral around 1.3180/90, showing no clear directional strength for now. Market continue to focus on any further Brexit development and we have UK GDP this week too.