GBP/USD Forecast: Rising odds for a break below 1.2000
|- Price action in GBP/USD keeps pointing to extra losses.
- Brexit limbo and likeliness of ‘no deal’ weigh on the Sterling.
- BoE remains in a ‘wait-and-see’ mode.
The Sterling remains mired within the negative territory so far today and appears that a break below the psychological support at 1.20 the figure is just around the corner.
In the meantime, the outlook on the British Pound is expected to remain gloomy to say the least, always on the back of rising uncertainty stemming from the UK government and utter absence of progress towards an outcome other than a ‘no deal’ scenario in the Brexit negotiations.
In addition, the Bank of England remains vigilant on both data and Brexit developments, although without giving markets any hint of its probable moves in the next months.
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