Having Brexit drama in play the Cable succeeded to regain the
1.3000 handle, due to greenback’s weakness. The GBP/USD opened lower undermined
by Minister Davis, who pointed out that UK may leave the negotiation's table
should the EU insist on the payment of a Brexit bill of around €100
billion, which lead the pair downwards to 1.2965.
Well the US session brought US dollar's selling and the pair moved higher.
Technically speaking the pair is currently range bounded and is keeping neutral
stance. The price is slightly above the 20-day SMA. RSI is consolidating around
55 level while stochastic has retreated form overbought conditions and has lost
directional strength.
Ahead of UK election the most likely scenario is neutral with a limited
downward scope on standing greenback's weakness.
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