GBP/USD: On Friday, the pound fell to a minimum over the week: the pair GBP/USD fell by 0.5% to 1.2812, after the publication of new economic reports indicating a slowdown in economic growth in the eurozone.
GBP/Usd seems picked up a bit, but still not showing any strong reaction from the Brexit deal. The pair is expected to continue trading within the range for now, immediate resistance is at 1.2850 and on the downside support can be seen at 1.2795.
Uncertainty about Parliament's approval of the Brexit deal has weighed in on the pair, GBP/Usd is trading the lowest since 15th Nov. The downside seems capped to 1.2730, but there is a further possibility of sliding lower if it breaks below 1.2730.
GBP/USD: The pound fell on Tuesday after warning that the agreement on Brexit is unprofitable for the UK. GBP/USD declined by 0.6% to 1.2753 after the US president announced that the Brexit agreement, signed by the British Prime Minister Theresa May seems to be an excellent deal for the EU that could lead to the termination of trade between the UK and the USA.
Gbp/usd made a signifficant rise today, gaining more than 100 points on its behalf and holding above the key resistance at 1.2810. If it manages to hold above this level, we could expect 1.2860 or even higher. On the flip side, going back to 1.2760 would resume the bullish scenario.
Very volatile session for the GBPUSD who first drops below the 1.2800 level, but rallies above that level towards the end of the session. The pair may continue rallying to the 1.2900 level, which could act as resistance, but right now there is no clear direction on the daily chart and the GBPUSD is simply oscillating around the 1.2800 zone.
Lack of new Brexit headlines keeps the Pound trading within the range under 1.2800 level, the pair continues under pressure and downside potential increase when the pair break below support level around 1.2720 handles.
Brexit uncertainties have weighed in on GBP/Usd, the pair has extended its consolidation movement to the lower ground, mid 1.2700's. While the pair remains bearish, the downside seems capped to 1.2700 level.