GBPUSD drops to session lows, May 16

The Sterling is proceeding to take a hit with the GBPUSD tumbling to a low of 1.2822 on the session currently following a striking drop overnight. Decision to hold another vote in parliament on Brexit (on the first week of June) adds to GBP’s negative tone.

Price is presently trading at lows since February and seems set to test a firm break of the trendline support from March to April at 1.2831.

Further support is currently seen around the region of 1.2773-91.

Concerning Brexit news today, PM May will meet with the 1922 Committee later on where she is expected to give a firm date on when she will be stepping down.

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.