Bears regain control as Brexit uncertainty prevails. Focus shifts to Fedspeak and US inflation report for further impetus. The GBP/USD pair stalled the Asian rally near 1.3360 and reversed nearly 30-pips in Europe, now heading back towards the 1.3300 demand zone, as markets digest the latest UK political headlines. Reuters reported that the UK PM Theresa May appointed Dominic Raab as new Brexit Secretary. However, markets remain wary over the Brexit issue, as the fracture in the UK parliament continues to exist on PM May’s Brexit proposal. On the USD-side of the story, the greenback once again attempts a tepid bounce from 3-1/2 week troughs reached against its main rivals, which in turn, also collaborates to the retreat in Cable from more than three-week highs. Later today, the pair will continue to track the developments around the UK politics and USD dynamics ahead of the key US inflation report slated for release in the week ahead. GBP/USD Technical Levels According to Slobodan Drvenica at Windsor Brokers: “Bulls probe above top of rising weekly cloud (1.3330), eyeing next strong obstacles at 1.3404 (falling 55SMA) and 1.3410 (base of thick daily cloud), violation of which would expose key barrier at 1.3472 (07 June high). Broken daily Kijun-sen (1.3260) should keep the downside protected and guard pivotal support at 1.3200 (rising daily Tenkan-sen). Res: 1.3350; 1.3404; 1.3410; 1.3472. Sup: 1.3284; 1.3260; 1.3233; 1.3200.” 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 Ethereum Classic: ETC/USD defies the Bear pressure, jumps 1.3% on the day FX Street 3 years Bears regain control as Brexit uncertainty prevails. Focus shifts to Fedspeak and US inflation report for further impetus. The GBP/USD pair stalled the Asian rally near 1.3360 and reversed nearly 30-pips in Europe, now heading back towards the 1.3300 demand zone, as markets digest the latest UK political headlines. Reuters reported that the UK PM Theresa May appointed Dominic Raab as new Brexit Secretary. However, markets remain wary over the Brexit issue, as the fracture in the UK parliament continues to exist on PM May's Brexit proposal. On the USD-side of the story, the greenback once again attempts a tepid… 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.
