GBPUSD Overview, March 12

The GBPUSD pair holds near 1.32 in early European trading. The GBP was supported by renewed hope on potential Brexit deal approval after UK Prime Minister May concurred with European commission on some changes to her plan, in front of UK parliament vote later.

The near term bias stays more bullish right now, however price is decreasing from its highs with long positions being squares. For buyers, it is all about catching a break above the 1.33 handle today should Brexit developments move in their favour.

Also, today’s UK macro releases might still generate some short-term trading opportunities.

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.

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