|Day's range||1.276 - 1.288|
|52-week range||1.2663 - 1.4377|
Investing.com - Sterling rallied on Friday, despite concerns over Brexit and the resignation of key officials in Prime Minister Theresa May’s government.GBP/USD rose 0.34% to 1.2818 as of 5:37 AM ET (10:37 GMT), after slumping to 1.2739 on Thursday after Brexit minister Dominic Raab resigned.Raad said he could not support the prime minister’s support terms of the the draft.Meanwhile at least 16 members of the Conservative Party have called for a vote of no confidence in May, increasing the chance of the country leaving the European Union in March without a deal. ...
The pair initially rallied during the Thursday’s session but found enough resistance around the 1.1350 level to roll back and break below the 1.13 level. The market is thrown off the track by recent Brexit headlines, Italian debt crisis situation and Fed raising the interest rates. If the market breaks below the 1.12 level, then it could break further possibly towards the 1.10 level. The 1.1350 is massively resistive, that extends up to the 1.14 level. …Read MoreGBP/USD
Investing.com - The British pound rose on Thursday despite concerns that political turmoil in the U.K. could see it leave the EU on March 29 without a safety net.
Brexit headlines continue to drive GBP/USD action as the UK’s parliament continues to fracture.
With economic data on the lighter side, we can expect geo-politics to continue to take center stage, the Pound in desperate need of good news.
Investing.com – The dollar rose against its rivals Thursday as mostly bullish economic data reaffirmed investor expectations that the U.S. economy remains on solid footing, while a slump in the pound also lifted sentiment.
Investing.com - The U.S. dollar was higher on Thursday as jobless claims data remained in line with a strong economy, supporting a Federal Reserve rate increase.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.32% to 96.97 as of 10:40 AM ET (15:40 GMT).The number of people who filed for unemployment assistance in the U.S. rose by 2,000 to a seasonally adjusted 216,000 from the previous week’s total of 214,000. The numbers give support to the Federal Reserve gradually increasing interest rates. ...
There have been six cabinet members resign from the Teresa May administration in London over the Brexit deal in the last 24 hours. In other words, it looks as if the British are trying to shoot themselves in the foot yet again. The currency market of course obliges this type of behavior was selling the pound.
Investing.com - The British pound tumbled on Thursday, after UK Brexit Minister Dominic Raab resigned, adding to uncertainty over whether Prime Minister Theresa May's proposed Brexit deal will win parliamentary approval.
Investing.com - The dollar held steady against a currency basket on Thursday, while the British pound dipped amid uncertainty over whether Prime Minister Theresa May's draft Brexit plan will win parliamentary approval.
The pair continued to witness extreme volatility, initially pulling back a bit in the Wednesday’s session but then turned around to break above the 1.13 level, showing resiliency around the major levels. The market has not fully recovered from the bearish trend, and short-term rallies will offer a great selling opportunity. The 1.1350 level above is extremely resistive and will be difficult for the market to break above. …Read MoreGBP/USD
The GBP/USD sinks on Thursday morning after the UK Brexit minister Dominic Raab announced his resignation. The British Pound dropped 1.75%, trading at 1.2765 at the time of writing.