The GBPUSD caught a bid over the last couple of days as PM May won a no-confidence vote within her own constituency and was on her way to meet with EU leaders to re-negotiate the current Brexit deal.
However, the EU had other ideas and later came out after meeting with PM May saying that she offered nothing new and that they will not re-negotiate the current deal.
This has led to traders re-igniting the selling pressure on GBP as we suggested in our previous GBP post. Expect further downside here with the support of 1.2350 likely to be next targets.
However, the EU had other ideas and later came out after meeting with PM May saying that she offered nothing new and that they will not re-negotiate the current deal.
This has led to traders re-igniting the selling pressure on GBP as we suggested in our previous GBP post. Expect further downside here with the support of 1.2350 likely to be next targets.