On Wednesday, GBPUSD is directed to the upside, but investors are very cautious and barely buying the instrument.
The British Pound intends to rise against the USD in the middle of the weekб but each successive step is more and more difficult. The current quote for the instrument is 1.2347.
The Brexit and its possible scenarios are still the key highlight the British Prime Minister Boris Johnson’s stance has too many unanswered questions. The key scenario right now is the “hardcore” one and the whole Parliament is against it. However, there is little time left for discussions and arrangements, but the Brits, who are usually quite insightful and forethoughtful, are simply wasting it.
Market players can’t exclude risks of the “no-deal” Brexit, thus putting pressure on the Pound. However, if the Bank of England interferes and implements the QE in case of the “hardcore” Brexit, some negative moments for the country’s economy after exiting may be avoided. But the British regulator is mum on that so far.
The statistics published by the United Kingdom remains weak. This week, the country reported on the GDP for the second quarter, which was worse than before. It appears that the Pound has little fundamental support, but is surrounded by a lot of risks.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.