Cable tumbles to lows at 1.3240 after Johnson quits. Sterling suffers after D.Davis,B.Johnson resign. All attention now shifted to PM T.May, Brexit progress. The British Pound is now trading into the negative territory at the beginning of the week, forcing GBP/USD to drop to fresh lows in the 1.3260 region. GBP/USD gains halted around 1.3360 Cable is losing around a cent since earlier tops in the 1.3360 zone after a wave of selling orders hit GBP following Foreign Secretary Boris Johnson resignation on Monday. Johson’s resignation follows Brexit Secretary David Davis’ and cast a mantle of doubt over the Brexit negotiation and PM T.May’s government. Cable’s recent upside momentum has been sustained by the persistent weakness around the greenback, specially emphasized following Friday’s mixed results from the US Non-farm payrolls. Later in the week, UK’s Industrial/Manufacturing Production is next on tap (Tuesday) seconded by speeches by Governor Carney’s (Wednesday) and Cunliffe (Friday). GBP/USD levels to consider As of writing, the pair is retreating 0.24% at 1.3255 and a break below 1.3241 (low Jul.9) would aim for 1.3239 (21-day sma) and finally 1.3197 (mo10-day sma). On the upside, the next resistance emerges at 1.3363 (high Jul.9) seconded by 1.3474 (high Jun.8) and then 1.3588 (200-day sma). 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 UK PM May: EU models on offer for future relationship at the moment are simply not acceptable FX Street 3 years Cable tumbles to lows at 1.3240 after Johnson quits. Sterling suffers after D.Davis,B.Johnson resign. All attention now shifted to PM T.May, Brexit progress. The British Pound is now trading into the negative territory at the beginning of the week, forcing GBP/USD to drop to fresh lows in the 1.3260 region. GBP/USD gains halted around 1.3360 Cable is losing around a cent since earlier tops in the 1.3360 zone after a wave of selling orders hit GBP following Foreign Secretary Boris Johnson resignation on Monday. Johson's resignation follows Brexit Secretary David Davis' and cast a mantle of doubt over the Brexit… 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.
