Brexit deadlock continues to restrict the GBP upside. The US GDP data is in the spotlight for now. The GBP/USD pair is trading near 1.2900 during initial Asian sessions on Friday. The quote recently bounced off 1.2870 as markets remain cautious of the US Dollar (USD) buying ahead of today’s US GDP. Though, the pullback couldn’t last long due to negative headlines from the UK. Even if the US Dollar (USD) lost some ground against rest of major currencies, the British Pound (GBP) remained under pressure as news of stalled cross-party Brexit talks continued dragging the quote downward. During early Friday, the Financial Times reported that the UK PM May will now avoid putting her Brexit proposal in the British parliament for voting ahead of the EU election. While the absence of major UK data could push the Pound traders to follow Brexit headlines for fresh impulse, a preliminary reading of the first quarter (Q1) 2019 gross domestic product (GDP) from the US will be an important catalyst for global investors to follow. The US Q1 2019 annualized GDP might witness a bit of pullback to 2.1% from 2.2% prior. However, the latest data from the US have been upbeat and chances of an upside surprise are much brighter. Technical Analysis While pair’s slip beneath 1.2870 highlights 1.2830 and February low near 1.2770, 1.2920 can entertain short-term buyers ahead of challenging them with 100-day and 200-day simple moving average (SMA) confluence near 1.2965/70. 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 Japan’s Motegi: Too early to announce results of trade talks FX Street 4 years Brexit deadlock continues to restrict the GBP upside. The US GDP data is in the spotlight for now. The GBP/USD pair is trading near 1.2900 during initial Asian sessions on Friday. The quote recently bounced off 1.2870 as markets remain cautious of the US Dollar (USD) buying ahead of today's US GDP. Though, the pullback couldn't last long due to negative headlines from the UK. Even if the US Dollar (USD) lost some ground against rest of major currencies, the British Pound (GBP) remained under pressure as news of stalled cross-party Brexit talks continued dragging the quote downward. During early… 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.
