GBPUSD Fundamental Expectations Analysis

The GBP is disadvantaged at the start of the new week. The 13 November GBPUSD Fundamental Expectations Analysis mentions possible reasons for that and what to expect.

13 November, OctaFX –   The dollar went higher on Monday while the British Pound is disadvantaged at the start of the new week amidst nerves concerning the stability of the UK’s Government. We understand the currency’s frailty stems from two causes (1) Statements of yet another possible contest on Prime Minister May’s leadership by 40 of her MPs and (2) Chief EU Brexit negotiator Barnier stating that the EU must be ready for talk negotiation failures.

The Sunday Times stated that 40 members of parliament from British Prime Minister Theresa May’s Conservative Party have consented to sign a letter of no-confidence in her. The number is almost enough for a real leadership challenge, through which May could be forced from office.

We believe the GBPUSD currency pair will consolidate over the upcoming week. In the absence of material positive economic data, GBP will not go higher based on the Brexit‑related skepticism.

13 November GBPUSD Fundamental Expectations Analysis

Cable suffered swift declines on Monday, with prices fast approaching 1.3100. The GBP/USD exchange rate was last down 0.5% at 1.3121. It continues to hold above 1.3100, but that might not be for very long. Pound sterling is suffering from political pressure tied to the Conservative party’s letter of no confidence in Prime Minister Theresa May.

13 November GBPUSD Fundamental Analysis


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