GBP/USD: In slight retreat due to USD strength
Focus shifts from Brexit to geopolitical tensions, but pair’s price still prone to any updates on the political front.
GBP/USD Technical analysis, overview, strategies, and levels
Geopolitical tensions continue to dominate the headlines, but in the background when it comes to the pound, Brexit news is likely to resurface, and for what lies after Brexit with negotiations on trade deals between the UK and the EU. GBP/USD was in slight retreat, and it had little to do with the pound which had a mixed performance amongst the FX majors and more to do with the US dollar outperforming and bringing this pair’s price down. Although the moves have been relatively consolidatory (in the context of increased geopolitical tensions forcing other risk-related assets into greater volatility), breakout strategies can’t be ruled out should the US dollar face significant moves on geopolitical tensions or the pound experience sudden action on any Brexit-related updates.
IG client and CoT sentiment for GBP/USD
GBP/USD Chart with retail and institutional sentiment
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