GBP/USD clings to 1.2690 at the end of US Pres. Trump’s less dramatic UK visit

Trump’s UK visit gained less fame despite being overall positive.
Speech from the BOE’s Carney will be followed for now.

Anil Panchal FXStreet

Closing statements at the end of Donald Trump’s UK visit could do little to trigger the GBP/USD pair’s momentum as it clings to 1.2690 during early Thursday.

The US President Donald Trump’s British visit turned out to be less dramatic with no major furious statements from any side and only the praise of the relationship between the two economies.

As regards to China’s Huawei, President Trump pushed the UK companies to create competition for the dragon nation’s firm. Further, British officials responded to the ban request from the US with a shock that they were not informed in advance about the US ban on Huawei and hence a British delegation will soon travel the US to guidelines on how to treat the firm at their homeland.

Additionally, the British Trade Secretary Liam Fox said that the UK wants more access to the US if it is to make a deal post-Brexit which is quite possible.

Traders may now look forward to the Bank of England (BOE) Governor Mark Carney’s speech at the Institute of International Finance Spring Meeting, in Tokyo, while also giving importance to the US trade balance data for fresh impulse.

Technical Analysis

With the quote’s sustained trading beyond 1.2650 and May month bottom near 1.2560, chances of its another attempt to challenge 1.2750 and then to February low around 1.2775 can’t be denied.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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