The Sterling is a little softer in early European trading as price just falls to under 1.2550 against the US Dollar.

For near-term price action, pay attention to the 200-hour Moving Average at 1.2533. Buyers need to hold price over that to keep up the near term bullish bias and sellers will look towards chasing a break beneath that to return some control.

The key focus will stay on Tuesday’s key release of the UK monthly jobs report, then on Wednesday’s CPI data and afterward retail sales data on Thursday.

Worrying headlines will keep on putting a negative impact on the GBP as it has in the course of recent weeks and it’s difficult to see sentiment improving except if Johnson or Hunt can discover a way how to bypass the Brexit obstacle.

Rose Alice

About: Rose Alice

Rose Alice has a long experience as a currency analyst with a deep knowledge of the relationship between macroeconomics and currencies fluctuation.