fundamental News - GBP/USD

GBP/USD consolidates recent losses around a two-month top, refreshing intraday low to 1.3545 during Thursday’s Asians session.


The cable pair took a U-turn from highest levels since early November the previous day after the US Federal Open Market Committee (FOMC) Meeting Minutes conveyed hawkish bias of the policymakers, suggesting a faster rate-hike and plans to discuss balance-sheet normalization.

the European Union (EU) took down multiple Brexit-linked sites, including the leave.eu, while marking the latest spark with the UK. Additionally, news of the British-France tussles over immigration also portrayed Brexit woes.

However, hopes of government support to the London, due to Brexit-linked losses to the financial hub, join the positive progress on the US-UK Brexit trade talks to favor GBP/USD bulls.

With nearly overbought RSI conditions backing the GBP/USD pullback from a two-month-old horizontal hurdle surrounding 1.3600, the pair sellers may aim to retest November’s high near 1.3510. However, any further weakness will be challenged by a 13-day-old support line near 1.3505, as well as by the 1.3500 threshold.

expectation today: bearish



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