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GBP/USD upside limited on Brexit concerns - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Valeria Bednarik, chief analyst at FXStreet, explained that the GBP/USD pair advanced up to 1.4394 during the European session, as local share markets opened with a strong footing, tracking Asian stocks.

    Key Quotes:

    "But the pair trimmed most of its daily gains during the American session, and retreated towards its comfort zone around the 1.4300 level."

    "There were no news in the UK to support the Pound, but this Friday, the kingdom will release its January Retail Sales data, expected to have grown compared to December figures.

    If that's the case, the British currency may result benefited. Nevertheless, the discussions surrounding a possible Brexit and the upcoming referendum on the matter, will probably keep the GBP subdued."
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