GBP/USD shows less reaction to latest Brexit headlines

GBP/USD keeps taking the rounds to two-day long ascending support-line while trading near 1.2060 during Wednesday’s Asian session.  |  14/08/2019 00:16
  • GBP/USD remains on a back foot amid recent UK political news.
  • Rebel MPs readying for early-September action.
  • UK CPI, trade/political news in the spotlight.

 GBP/USD keeps taking the rounds to two-day long ascending support-line while trading near 1.2060 during Wednesday’s Asian session.

The Cable responded to the latest Brexit headlines with a cold heart as traders are cautious ahead of China’s key activity data for July after witnessing surprise increase in the previous month. Further to note, the quote earlier dropped after the mixed British jobs report and positive trade headlines.

Among the news, the UK’s Speaker of the House of Commons, John Bercow recently became a strong force against the Prime Minister (PM) Boris Johnson’s “do or die” pledge, as per The Telegraph. Mr. Bercow showed readiness to stop the no-deal Brexit by all means.

Additionally, ex-Chancellor Philip Hammond wrote a letter to the no10, as per The Sun, signed by 20 other members of the Parliaments (MPs), that shows the PM ruins chances of any deal with the EU. In response to it, some of the Brexiteers termed him as doing the EU’s negotiation for it.

Even if some of the key British lawmakers are preparing to challenge PM Johnson on September 06, poll results from ComRes survey recently showed that the Tory leader has public support for his Brexit pledge.

Moving on, the UK’s July month Consumer Price Index (CPI) and news concerning the US-China trade will be watched closely for near-term direction.

Technical Analysis

Thursday’s low near 1.2095 acts as an immediate resistance to aim for 1.2155 while pair’s downside beneath two-day long support-line, at 1.2055, can trigger fresh declines to 1.2015 and 1.2000 round-figure.

Share

Popular News

Show More Popular News

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on finance
and other asset classes for Market Insight viewers

Back

Login to Market Insight Account

Your Market Insight account gives you access to the tools that we offer our customers including our
Technical Studies & Sentiment for your accounts.

Forgot Password?

Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

Create a Market Insight's Account

Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

register_ty

Thank you!

Welcome to Market Insight family!

You have succesfully completed the registration.
We will send you an e-mail to give you some
instructions and our Terms and Conditions!
Our account representatives will be contacting you as
soon as possible. If you have any further questions
please do not hesitate to mail us via info@marketinsight.com