Overall, GBP/USD is ranging across. Recently, GBP/USD’s downtrend was reversed as a result of the weakness in the U.S. dollar caused by the contraction of the U.S. manufacturing industry and Brexit optimism.
Yesterday evening (London time zone), a majority of British lawmakers voted to take control of parliamentary business with a result of 328 votes to 301 votes. This will allow them to push through legislation to prevent no-deal Brexit.
The Parliament will be voting today (London time zone) on the legislation that would pressure the Prime Minister to seek another Brexit extension from the EU if passed.
Earlier on today, the British Services PMI data released was worse than forecasted.
The British Inflation Report Hearings are scheduled at 2115 (SGT) tonight. During this time, BoE Governor Mark Carney and several MPC members will be testifying before the Parliament’s Treasury Committee. Volatility is expected during the hearings.
GBP/USD’s next support level is at 1.20000 and its next resistance level is at 1.22000.
Yesterday evening (London time zone), a majority of British lawmakers voted to take control of parliamentary business with a result of 328 votes to 301 votes. This will allow them to push through legislation to prevent no-deal Brexit.
The Parliament will be voting today (London time zone) on the legislation that would pressure the Prime Minister to seek another Brexit extension from the EU if passed.
Earlier on today, the British Services PMI data released was worse than forecasted.
- Services PMI (Actual: 50.6, Forecast: 51.0, Previous: 51.4)
The British Inflation Report Hearings are scheduled at 2115 (SGT) tonight. During this time, BoE Governor Mark Carney and several MPC members will be testifying before the Parliament’s Treasury Committee. Volatility is expected during the hearings.
GBP/USD’s next support level is at 1.20000 and its next resistance level is at 1.22000.