Fundamentals:

On the Sterling side, we will have a quite London session with no major macroeconomic data release.

Brexit negotiations continue to grind to a stuttering halt, with key drafts from the June EU summit showing little to no resolutions to the current Irish border issue, and the EU’s Bernier is warning people that they need to be prepared for all possible outcomes, including a “hard Brexit” scenario, one where the UK goes ahead with separating from the EU without any kind of trade agreement in place.

Traders’ focus will remain locked on the upcoming Bank of England (BoE) rate decision, due on Thursday at 11:00 GMT, where the BoE is expected to hold off once again on a rate increase.

On the USD side, we will have Home Sales figures which seems to be a fewer effect on the pair. Brexit and Trade Wars are likely to remain as the determining factors .

Technically:

Cable is trading 1.31600 as of writing.

From the indicators point of view; 1.30600 appears to be the main support for the pair as the MA 100 in the weekly chart. The near-term trendline support is located at the same levels.

CONTINUE READING

GBPUSD-1

Source: http://chartreaderpro.com/en/gbpusd-technical-analysis-bullish-bat-pattern/

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