Manchester suicide bombing worries weigh on GBPUSD


Manchester suicide bombing worries weigh on GBPUSD, dragging the Pound down 0.1 percent to $1.299. Concerns also gather around UK snap elections, following the terrifying events.

23 May, ADS Securities – The Pound dropped against the US Dollar in the last session as latest polls showed that the UK Prime Minister, Theresa May’s Conservative party is losing support ahead of the June 8 election, while Brexit Secretary David Davis threatened the European Union (EU) to quit Brexit talks unless the bloc drops its high financial demands.

Manchester suicide bombing worries weigh on GBPUSD

At present, the pair is trading with a slightly downside bias, ahead of UK’s inflation report hearings to be held later today. Moreover, the MACD is placed in its negative territory, further verifying the above view.

Key support is located at the 1.2965 level, followed by the 1.2935 and 1.2900 levels. A clear breach below the latter might lead to further negativity in the pair. On the contrary, immediate resistance is located at the 1.3015 level, followed by the 1.3040 and 1.3075 levels.

Manchester suicide bombing worries weigh on GBPUSD

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