Sterling bulls remain hesitant as traders await details of the UK PM’s EU visit, followed by the FOMC minutes, for fresh impulse.
The British pound has started to give back recent gains against the US dollar following a strong technical rejection from the 1.2150 level.
The now better mood around the British Pound is dragging EURGBP to the mid-0.9200s following the opening bell in the Old Continent on Monday.
The British pound has continued to plummet lower against US dollar as Brexit no-deal fears intensify across financial markets.
Sterling continued the free fall that started in April as investors continued to focus on Brexit. The pair reached a low of 1.2295, which is the lowest level sin 2017.
In this GBPUSD price analysis, the Sterling bulls were unable to break above 1.2760 after the 7th attempt since May. What is next?
The GBPUSD pair is heavily bearish while trading below the 1.2660 level following reports that British PM Theresa May could soon quit.
GBPUSD technical analysis: Pound dropped due to Brexit talks after the British Pound edged lower for a third consecutive day due to lack of progress in cross-party Brexit talks.
The financial market was caught off-guard by a Trump tweet that warned of additional tariffs on Chinese goods.