GBP has fallen as much as EUR in recent weeks as weaker than expected UK inflation, a walking back of rate hike expectations over the last month, and some increase in negative political and Brexit news have combined to weaken the GBP, explains Greg Gibbs, Analyst at Amplifying Global FX Capital. Key Quotes “Employment data was strong, and retail sales were stronger in April. Travails in Italy and Spain should not undermine the GBP. Arguably it even makes Brexit seem not such a bad idea after all.” “The market seems to be looking at the latest Brexit dealings with a glass half empty attitude. Progress has been made since last year, and PM May is attempting to move the negotiations forward. Negotiations are always going to look difficult. PM May is attempting to thread the needle, with everyone shouting at her and half the pavilion baying for her to fail.” “The GBP/USD chart does not look attractive, and GBP/EUR is in a range.” “There is no doubt a wide risk band around GBP at the moment, so I haven’t acted on this thought-bubble. But AUD/GBP is at levels that might look OK to sell.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD weaker, 1.1600 just around the corner FX Street 5 years GBP has fallen as much as EUR in recent weeks as weaker than expected UK inflation, a walking back of rate hike expectations over the last month, and some increase in negative political and Brexit news have combined to weaken the GBP, explains Greg Gibbs, Analyst at Amplifying Global FX Capital. Key Quotes "Employment data was strong, and retail sales were stronger in April. Travails in Italy and Spain should not undermine the GBP. Arguably it even makes Brexit seem not such a bad idea after all." "The market seems to be looking at the latest Brexit dealings… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
