GBP: Guided by the UK politics - ING
|In view of analysts at ING, GBP has staged a timid rebound after dramatically falling on Tuesday.
Key Quotes
“Brexit fears were partly mitigated by a move by British MPs aimed at averting a Parliament suspension, which may allow the future PM (in all probability Boris Johnson) to force a no-deal solution.”
“Today, a scheduled debate in the House of Commons on the matter may provide more clarity. Add to this a possible rebound in June retail sales, and GBP may stay supported on the day.”
“Nonetheless, we expect the 0.90 level in EUR/GBP to be a solid support for the pair. Looking ahead, we remain highly sceptical that any GBP rally will prove sustainable and expect pressure on GBP to keep mounting.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.