Overall, GBP/USD is trending downwards. Recently, GBP/USD is trending upwards.
Yesterday evening, German Chancellor Merkel clarified that her comment “We can find a solution to the backstop by October 31” does not mean that she is giving Britain 30 days to find a solution for the Irish backstop. What she meant was that “what one can achieve in three or two years can also be achieved in 30 days”, referring to Britain coming up with a solution to the Irish backstop by October 31st. Markel’s comment caused the pound to strengthen, breaking the resistance level of 1.22000.
The G7 meetings will be starting tomorrow. Central bankers from the G7 nations may make important comments and statements.
Next Monday, UK banks will be closed in observance of the Summer Bank holiday. Expect lower price volatility and trading volume.
Currently, GBP/USD is testing the support level of 1.22000. Its next resistance level is at 1.24000.
Yesterday evening, German Chancellor Merkel clarified that her comment “We can find a solution to the backstop by October 31” does not mean that she is giving Britain 30 days to find a solution for the Irish backstop. What she meant was that “what one can achieve in three or two years can also be achieved in 30 days”, referring to Britain coming up with a solution to the Irish backstop by October 31st. Markel’s comment caused the pound to strengthen, breaking the resistance level of 1.22000.
The G7 meetings will be starting tomorrow. Central bankers from the G7 nations may make important comments and statements.
Next Monday, UK banks will be closed in observance of the Summer Bank holiday. Expect lower price volatility and trading volume.
Currently, GBP/USD is testing the support level of 1.22000. Its next resistance level is at 1.24000.
Free trading community: discord.gg/kPDXU2ZaDt