Last week Carney said that the uncertainties related to the Brexit could delay rate hikes, the news cause Gbp/Usd very bearish, immediate support can be found at 1.3960, break below could extend further on the downside.
Speculation on the BOE won't raise rates next May will continue to maintain Gbps/Usd strong downward trend. Meanwhile, Brexit could be another reason for Pound under pressure this week.
The pair is lack of directional strength and consolidating on the low. BoE this week and unsettled Brexit strategy within May's cabinet will probably add more pressure on the pair.
The pair is showing very little changes, short-term has no clear directions. Near-term resistance can be found at 1.3617, on the downside, important support lies at 1.3500 and followed by 1.3457.
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.
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
