GBPUSD Forecast, March 11

The USD weakened on Friday in the midst of the jobs report which dented the market sentiment. Furthermore, that has helped the GBPUSD pair to trade above 1.3000 to session highs of 1.30179.

Headlines about that the British Prime Minster May is losing support for her Brexit vote and is also confronting expanding pressure to resign, further dented the already weaker sentiment surrounding the GBP.

The pair extended its retracement slide from 10-month tops, dropping to near 3-week lows earlier today further, and was further pressurized by a modest US Dollar uptick on the back of a goodish pickup in the US Treasury bond yields.

The pair expanded its retracement slide from ten-month tops, dropping to close to three-week lows prior today further at 1.2968., and was additionally pressurized by a humble USD uptick.

Cable presently appeared to demonstrate some resilience at lower levels as traders currently appeared to be hesitant to place any aggressive bets in front of tomorrow’s meaningful vote.




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.