The 5 December GBPUSD Fundamental Drivers Expectations reveals the seemingly tough times both the UK and the US are undergoing. However, the UK seems to be bearing the brunt at this point of time.
5 December, OctaFX – After relishing the spotlight over the past few days, the British pound dropped some of its glory yesterday as it seems to be to Brexit deal yet and the effect of that was clearly seen on the pound on Monday.
The Brexit process seemed to be on the verge of collapsing with the DUP party obstructing the agreement over the Irish borders which is one of the fundamental points of the deal with the Eurozone.
The US dollar will, of course, have its impact as well, but It is reasonable to conclude that for the most part traders are basically paying heed to the British pound when it comes to this market. These are tough times for both the UK and the US are undergoing. However, the UK seems to be bearing the brunt at this point of time.
5 December GBPUSD Fundamental Drivers Expectations
Cable was little changed on Tuesday, as investors awaited fresh trading catalysts later in the day. The GBP/USD exchange rate was last seen holding steady around 1.3472 after slipping from two-month tops above 1.3500. That level continues to offer strong psychological resistance. On the support side, cable is likely to find demand around 1.3430.
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