Pound Sterling Price News and Forecast: GBP/USD weighted by the mounting Brexit tensions
|GBP/USD Price Analysis: Immediate falling channel keeps sellers hopeful around 1.2300
GBP/USD takes rounds to 1.2305 during the early Asian session on Tuesday. The pair bounced off the lowest since May 28 the previous day. However, a four-day-old descending trend channel formation continues to portray the quote’s weakness.
Even so, RSI pullback from the oversold region could offer an intermediate rise towards the pattern’s resistance line, at 1.2335 now. Though, a clear break of which could escalate the recovery moves towards a 200-HMA level near 1.2430.
GBP/USD Forecast: Mounting Brexit tensions weighed on Sterling
The GBP/USD pair has extended its slide to a fresh June low of 1.2251, trading sub-1.2300 heading into the Asian session. The UK published May Mortgage Approvals, which were up by just 9.273K from 15.815K in the previous month, and Consumer Credit for the same month, which came it at £-4.597 B against the £-2.5 B expected.
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