GBPUSD Forecast, February 21

Cable turned over an early European session plunge to a session low level of 1.3025  and recovered more than 50-pips, yet immediately withdrawn few pips from that point.

The GBPUSD pair had great two-way price action yesterday and and finished almost unaltered for the day.

The GBP was overloaded by the latest UK political development, when three Conservative MPs resigned and joined former Labour MPs in the new Independent Group. Then, a modest USD bounce back, following  the release of the latest FOMC meeting minutes, provoked some selling at higher levels.

The focus stays on the incoming Brexit headlines ahead of the Parliament vote on May’s amended deal.

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.