The Pound is looking for support. Overview for 25.09.2019

GBPUSD is losing momentum in the middle of the week influenced by strong USD. 

The British Pound is falling against the USD on Wednesday. The current quote for the instrument is 1.2440.

Yesterday, the United Kingdom reported on the CBI Industrial Order Expectations. The indicator dropped to -28 points in September after being 1-3 points in August and against the expected reading of -14 points. Readings below zero show drop in orders. Obviously, the British industrial sector is now suffering due to the lack of clear understanding of what might happen after October 31st.

Yesterday, the British Prime Minister Boris Johnson once again reminded that the country would exit the European Union at the end of October, just as planned, and the latest decision of the British Supreme Court to declare the Parliament shutdown illegal supposedly prevented him from making the Brexit deal. 

The United Kingdom still hasn’t got any particular arrangements with the European Union. There is only the Brexit deal that was developed by Theresa May at her time, but Johnson and his followers fundamentally disagree with it.