Australia  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

GBP/USD: Upside remains capped amid Brexit uncertainty

FXstreet.com Tuesday, 26 March 2019
· *Less clarity over Brexit acts as a key challenge for the GBP/USD pair.*
· *The 1.3230 resistance-line limits immediate upside of the quote.*

The British Pound (GBP) is little positive around 1.3200 mark versus the US Dollar (USD) ahead of London open on Tuesday. The GBP/USD pair struggles between the British lawmakers’ inability to provide clarity over Brexit and recent weakness of the US Dollar. Looking forward, investors may keep a tab on the US data amid lack of economics from the UK while also observing developments surrounding the Brexit.

The UK 10-year Gilt yields dropped beneath 1.0% mark for the first time since 2017 as members of the parliament (MPs) continue to plot against the PM Theresa May. The British MPs recently favored a motion that gives the parliament an upper hand over the government on Brexit issues. The same motion, known as Letwin amendment, will be up for voting on Wednesday and might increase pressure on the UK PM.

On the positive side, traders assume a meaningful difference from the no-deal Brexit and an unconditional April 12 deadline given by the EU. As per the latest CFTC report, speculative net short positions for the GBP dropped to the lowest since June 2018 during the week ended on March 19.

While Brexit uncertainty continues to challenge Sterling traders, lack of the British data will push market players toward the US housing and consumer confidence statistics for fresh impulse.

The US housing starts may decline to 1.215 million from 1.230 million during February month whereas building permits could also soften towards 1.3000 million versus 1.317 million previous revised. Also, the confederation board’s consumer confidence index seems crucial if it registers a meaningful difference from the 131.4 prior.

*GBP/USD Technical Analysis*

The fortnight old descending trend-line caps the pair’s immediate upside around 1.3230 now, a break of which can recall 1.3300 and 1.3380 on the chart.

On the downside, 1.3170 and 50-day simple moving average (SMA) figure of 1.3080 can please sellers during further declines.
0
shares
ShareTweetSavePostSend
 

You Might Like


Recent related videos from verified sources

Brexit: Uncertainty on Irish backstop leaves residents on border anxious [Video]Brexit: Uncertainty on Irish backstop leaves residents on border anxious

As Brexit negotiations continue, Irish residents are wary of a future with a potential hard border.

Credit: Al Jazeera STUDIO     Duration: 06:54Published

What Would Happen if there is a No Deal Brexit? [Video]What Would Happen if there is a No Deal Brexit?

There is a lot of uncertainty surrounding Brexit and the possibility of leaving the European Union without a deal grows with every passing day. But what would be some of the consequences of a no deal..

Credit: FYI News     Duration: 01:00Published

A Cure for Market Myopia: What You Need to Know About the Macro Picture in 2019 [Video]A Cure for Market Myopia: What You Need to Know About the Macro Picture in 2019

Brexit, the Sino-American trade war, a yield curve inversion, and an uncertain Fed policy. There's a lot to consider for investors aside from the balance sheets or charts of specific companies in 2019...

Credit: The Street     Duration: 07:35Published

Brexit gives Scotch whisky makers a headache [Video]Brexit gives Scotch whisky makers a headache

With Brexit looming, Scotch whisky producers face serious ramifications for the industry from a bad deal with the EU - one of the main importers of the spirit - or from no deal at all. Katie Gregory..

Credit: Reuters Studio     Duration: 02:04Published

European markets: Brexit clouds gather, sterling dips [Video]European markets: Brexit clouds gather, sterling dips

Europe's shares treaded water on Tuesday as Brexit uncertainty clouded sentiment with parliament deadlocked again over its exit from the EU. As David Pollard reports, sterling also dropped on the..

Credit: Reuters Studio     Duration: 01:51Published

EasyJet Struggling With Brexit [Video]EasyJet Struggling With Brexit

London (CNN Business)EasyJet has dialed back its expectations for the European summer season, warning that continued uncertainty over Brexit is driving ticket prices lower. The discount carrier said..

Credit: Rumble     Duration: 00:47Published

Theresa May's Brexit Deal Is Dead! [Video]Theresa May's Brexit Deal Is Dead!

According to Reuters, Lawmakers rejected Prime Minister Theresa May’s Brexit deal for a third time on Friday, sounding its probable death knell and leaving Britain’s withdrawal from the European..

Credit: Wochit     Duration: 00:48Published

Businesses Frustration With Brexit [Video]Businesses Frustration With Brexit

According to CNN, Business leaders are voicing intense frustration with politicians who have plunged the United Kingdom deeper into uncertainty over Brexit. Adam Marshall, head of the British Chambers..

Credit: Wochit News     Duration: 00:48Published


Other recent news in Markets

Central Bank of RUSSIA Reviews Potential Benefits and Drawbacks of CBDCsFPT Corporation and SBI Holdings Invest $3 Million in Vietnamese Blockchain PROJECT
FBI Investigating WEATHER CHANNEL Ransomware Attack3 Things to Look Out for When UNITED Technologies Reports Earnings
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.