There has been some short covering in the GBP, after PM Johnson cut a deal with party members over his new bill, and it is now more likely to pass through UK Parliament. All in all, Terence Wu from OCBC Bank still remains negative on the GBP at this point, pending clarity on the Internal Market Bill and the Bank of England and watch the 1.2870 support. Key quotes “The compromise that PM Johnson arrived at with his party members may be scant consolation from the EU’s point of view. The possibility that the UK can unilaterally alter the Withdrawal Agreement remains unchanged.” “On the BoE front, chatter is that it will be priming the market for more asset purchases in 4Q. Expect it to sound dovish overall.” “The bounce higher in GBP/USD was capped at 1.3000, and expect this to remain as the first resistance northwards.” “Bears will have to first breach 1.2870 to get better traction.” 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 erodes the four-month uptrend at 1.1826, scope for 1.1495 – Commerzbank FX Street 1 year There has been some short covering in the GBP, after PM Johnson cut a deal with party members over his new bill, and it is now more likely to pass through UK Parliament. All in all, Terence Wu from OCBC Bank still remains negative on the GBP at this point, pending clarity on the Internal Market Bill and the Bank of England and watch the 1.2870 support. Key quotes “The compromise that PM Johnson arrived at with his party members may be scant consolation from the EU’s point of view. The possibility that the UK can unilaterally alter the Withdrawal… Top 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.
