“¢ Overnight Brexit news-led optimism turns out to be short-lived. “¢ Persistent USD buying prompts some fresh selling on Thursday. “¢ Focus remains on the upcoming BoE monetary policy update. Bearish pressure surrounding the British Pound remains unabated, with the GBP/USD pair sinking to fresh 7-month lows in the last hour. Optimism over the UK PM Theresa May’s win in the crucial Brexit bill vote in parliament turned out to be short-lived, with the pair retreating nearly 100-pips from overnight swing higher level of 1.3217. Persistent US Dollar buying interest was seen as one of the key factors exerting some fresh downward pressure on the major through the early European session on Thursday. This coupled with little expectations of any hawkish tone from the upcoming BoE monetary policy decision further dented the already weaker sentiment surrounding the British Pound and collaborated to the pair’s downfall to its lowest level since mid-Nov. 2017. It would now be interesting to see if bears continue dragging the pair lower or opt to lighten their positions ahead of today’s key event risk – the latest BoE monetary policy update, due to be announced later today. Technical levels to watch A follow-through selling has the potential to continue dragging the pair further towards the 1.3100 handle en-route the next major support near the 1.3050-40 region (Nov. 2017 swing lows). On the upside, any recovery attempts back above 1.3170-75 area might now confront fresh supply near the 1.3200 handle, which if cleared could trigger a near-term short-covering bounce. 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 SNB: Negative rate, intervention pledge remains essential FX Street 5 years "¢ Overnight Brexit news-led optimism turns out to be short-lived. "¢ Persistent USD buying prompts some fresh selling on Thursday. "¢ Focus remains on the upcoming BoE monetary policy update. Bearish pressure surrounding the British Pound remains unabated, with the GBP/USD pair sinking to fresh 7-month lows in the last hour. Optimism over the UK PM Theresa May's win in the crucial Brexit bill vote in parliament turned out to be short-lived, with the pair retreating nearly 100-pips from overnight swing higher level of 1.3217. Persistent US Dollar buying interest was seen as one… 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.