GBP/USD: "hard Brexit" woes just keep coming - FXStreet

Ross J Burland FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the British Pound tumbled against its American rival, printing a daily low of 1.2088, before settling around 1.2130 by the end of the day.

Key Quotes:

"Down for a fourth consecutive day, the GBP/USD pair keeps falling on fears about the consequences of a "hard Brexit." Brexit woes this Tuesday gyrated around a potentially constitutional matter, as the Parliament might challenge PM May right to start the process of withdrawing the UK from the EU without a vote of the Houses. Speculative interest is now eyeing a possible retest of Friday's wild swings' low that varies among retail brokers between 1.16 and 1.19, but implies anyway a bearish extension below the 1.2000 figure."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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