Analysts at Scotiabank explained that the GBP wobbled earlier in London trade on Brexit noise.
Key Quotes:
“PM May appeared to talk down the risks of a no-deal Brexit by referring to comments from WTO chief Azevedo last week that a no deal Brexit would not be easy, trade would continue.”
“A spokesman reiterated that the negotiations continue to work towards a Brexit deal by Oct. “
“The market is struggling to make new short-term cycle highs.”
“Trend signals are neutral (or negative) beyond the 1-hour studies.”
“Above 1.2960 will give the GBP a little more room to improve. Support is 1.2850.”
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