The Sterling is on pace to mark in a bearish week as Brexit concerns continue to weigh. A thin schedule for Friday will see traders face-to-face with Brexit bears, and USD flows could set the tone. The GBP/USD continues to flub into lower price levels, and is currently testing near 1.3180 after dipping into a new low of 1.3167 in the early overnight session. Brexit headlines continue to represent a significant drag on the Sterling, which has seen the week go to the bears as the GBP/USD shifts to the low side. Several key Brexit ministers resigned from their posts early in the week in protest of Prime Minister Theresa May’s latest “third option” Brexit proposal, and the latest White Paper released on Thursday did little to ease hard-line Brexiteer concerns, drawing criticism within the parliament as a bad deal for Britain. The US President, Donald Trump, who is in the UK for a multi-day visit, lamented the latest Brexit proposal, warning that a soft Brexit scenario that sees the UK tied to the EU on trade policies will hamper efforts to enact trade deals between the US and the UK moving forward. Friday is a thin showing on the economic calendar for both the GBP and the USD, with Friday’s London session seeing a mid-tier speech from the Bank of England’s (BoE) MPC Member Cunliffe at 11:00 GMT, with the US Fed’s Monetary Policy Report at 15:00 GMT and another speech from the Fed’s FOMC Member Bostic at 16:30 GMT. GBP/USD levels to watch Further downside for the Pound as Brexit jitters continue to wear down traders is heavily priced in for the last trading day of the week, and according to FXStreet’s own Valeria Bednarik, “technically, the risk is leaned to the downside according to the 4 hours chart, as the pair met selling interest around a bearish 20 SMA a couple of times, currently at 1.3240, while technical indicators remain in negative territory, with the Momentum aiming modestly higher but the RSI losing upward strength and heading marginally lower at 45.” Support levels: 1.3180 1.3155 1.3110 Resistance levels: 1.3240 1.3285 1.3320 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 Australia: Economy likely to grow at 2.9% in 2018 – NAB FX Street 5 years The Sterling is on pace to mark in a bearish week as Brexit concerns continue to weigh. A thin schedule for Friday will see traders face-to-face with Brexit bears, and USD flows could set the tone. The GBP/USD continues to flub into lower price levels, and is currently testing near 1.3180 after dipping into a new low of 1.3167 in the early overnight session. Brexit headlines continue to represent a significant drag on the Sterling, which has seen the week go to the bears as the GBP/USD shifts to the low side. Several key Brexit ministers resigned from their posts… 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.
