GBPUSD about to head South Amidst BREXIT Fears?

[izzy_63]

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.

 

[izzy_63]

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.

 

[izzy_63]

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.

 

[izzy_63]

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.

 

[izzy_63]

Brexit uncertainty continues to weight in making the pair trading almost flat, but I'm hoping BoE possible rate hike will change it.

 

[izzy_63]

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.

 

[izzy_63]

Brexit uncertainty continues weighing on Pound, the pair remains strong downward slopes, immediate support can be found at 1.2720.

 

[fxstrategist]

The pair is still very weak after the bearish bounce from the 1.3000 level and the 55 day EMA. Now, the 1.2800 level may act as support, but a better support is the low at the 1.2660 level.