- Delay in Brexit
- U.S.-China Trade War intensifies
- GBP/USD rejected support level
Price Movement
Since yesterday, GBP/USD moved down by around 110 pips before moving back up by around 80pips.
Trend
GBP/USD is currently ranging across.
Important Issue
This morning at around 0033 (SGT), Trump mentioned in an interview that “We're not talking about removing tariffs, we're talking about leaving them for a substantial period of time, because we have to make sure that if we do the deal with China that China lives by the deal”.
During a speech at 0415 (SGT), British Prime Minister Theresa May confirmed that the U.K will not leave the EU without a deal on 29th March, thus delaying Brexit to no further than 30th June.
Technical
This morning, GBP/USD tested and rejected the support level of 1.31675.
Price Levels
Current Price: 1.32245
Next Resistance: 1.33210
Next Support: 1.31675