Pound/dollar already erased the election announcement gains, falling to the lowest levels in two months. We listed 3 reasons for the downfall. Different forces converged to hurt the currency pair. And now, cable extends its downfall, and it is led by UK politics. Her Majesty The Queen will make her speech today, laying out the new government’s plan. However, the plan will be limited, as the government still does not have a majority. Talks between PM Theresa May’s Conservative Party and the Northern Irish DUP have not been concluded. According to some UK news outlets, the small party wants more respect from the ruling Tories. Comments by backbenchers have resulted in insults. The DUP is also taking advantage of its position as a kingmaker party. The two parties will likely forge a deal, but many analysts see a limited reign for May. Another round of elections is likely later this year. GBP/USD slips Pound/USD reached a new low of 1.2589, the lowest since the day May announced the elections on April 18th. Psychological support is at 1.25. Further support is at 1.2350, followed by 1.2250. Resistance is at 1.2635, the low point before the most recent drop. Here is how it looks on the daily chart: Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next GBP/USD breaks high resistance on hawkish Haldane Yohay Elam 6 years Pound/dollar already erased the election announcement gains, falling to the lowest levels in two months. We listed 3 reasons for the downfall. Different forces converged to hurt the currency pair. And now, cable extends its downfall, and it is led by UK politics. Her Majesty The Queen will make her speech today, laying out the new government's plan. However, the plan will be limited, as the government still does not have a majority. Talks between PM Theresa May's Conservative Party and the Northern Irish DUP have not been concluded. According to some UK news outlets, the small party wants more… 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.
