GBP/USD justifies Monday’s bearish Doji to drop towards 1.2000 ahead of UK/US PMI
GBP/USD renews intraday low near 1.2020 early Tuesday morning as traders cheer the return of the Western traders, following an extended weekend due to the US holidays. In addition to the full market’s return, the Cable pair traders also portray fears emanating from the Brexit deal negotiations and doubts over the small industries’ optimism.
Late on Monday, the UK Times came out with the news suggesting British Ministers are prepared to resign over (Prime Minister) Rishi Sunak’s Brexit deal if it risks Northern Ireland’s place within the UK. “There is a mounting backlash among Eurosceptic Conservative MPs to the deal,” mentioned The Times. Read more...
GBP/USD Price Analysis: Clings to 100-HMA above 1.2000 with eyes on UK PMI
GBP/USD remains sidelined near 1.2040 during the early hours of Tuesday’s Asian session, extending Monday’s inaction.
In doing so, the Cable pair seesaws around the 100-Hour Moving Average (HMA) amid the trader’s cautious mood ahead of the first readings of the UK Purchasing Managers Indexes (PMI) for February. Read more...
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