21.05 - what is happenning to GBP/USD? Can we profit today?
- by Anna K.
As if we didn’t have enough problems… GBP/USD is causing more worries across the global markets today as political turmoil in the country seems to back down just a little. Even though British lawmakers supported Brexit deal proposed by Theresa May yesterday we are still looking at a failing GBP/USD chart. Why? Well, inflation numbers of Great Britain are due to be released today and there is no guarantee that we are going to like what we are going to see as for the last several months all we heard coming out from the county was bad or very close to bad news. And we as traders are not going to keep on withstanding the losses that might be caused by GBP/USD constant declines.
The Cable went lower today even though May is trying very hard to stick on with her Brexit deal. Alas – not everyone supports her deal which she is trying to present with barely any changes for the third or fourth time. And as we know GBP doesn’t really like all of the Brexit process that is why traders tend to drop the currency every time there is talk of Great Britain – EU divorce.
The couple is trying to recover $1.28 position but it is more likely that we are going to see it go lower than $1.27 than recover. Without trading signals, it is hard to say what is going to happen to the couple today.