The GBPUSD pair is trading around the midpoint of the 1.3100 handle. The main driver of the latest slide stems from Brexit negotiations. After three hours of talks, the media was reported that there was no breakthrough. The talks would continue on Wednesday.

The pair kept on finding solid bids close to the 1.3130 area and now at last appears to break the Asian consolidative mode to the upside, as the USD appears to broaden its retreat.

In the meantime, the GBP bulls are seen attempting to take on the recuperation beyond the 1.3150, as the stalemate on the Brexit negotiations keeps on dominating over the optimistic comments from the BoE Governor Carney.

Looking forward, focus will remain on the result of the round 2 of the EU-UK negotiations and US ADP jobs data.

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.