Analysts at Scotiabank explained that PM May is travelling to Africa this week to shore up relationships for the post-Brexit world.
Key Quotes:
“French PM Macron suggested a Brexit accord by year-end might be acceptable, which stretches out the timeframe for a deal to be reached by another few weeks potentially.”
“But that still leaves PM May with a lot of work to do against a parliamentary backdrop that remains relatively unfriendly.”
“GBP/USD short-term technicals: neutral.”
“Trend signals remain neutral on the hourly and intraday signals, suggesting little real impetus to push out of recent ranges. We look for support on dips to the low/mid 1.28s today and expect resistance near 1.2885/90.”
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