The Pound is growing, taking advantage of the situation. Overview for 21.08.2018
GBPUSD is growing on Tuesday supported by external background.
The British Pound is slowly rising against the USD on Tuesday afternoon. The current quote for the instrument is 1.2820. Apart from the weakness of the American currency, which allows all other traded currencies to recover, the Pound has some domestic news to respond to.
In the nearest future, the United Kingdom is starting a new round of talks with the European Union, during which the parties have to arrange trade terms between them after them Brexit. Probably, Dominic Raab will meet the European Union representatives as early as today for more detailed negotiations, so in the middle of the week there might be some news for the Pound to react to.
This week, the United Kingdom will publish very few macroeconomic reports, which may “disturb” the currency market. Still, one should pay attention to the CBI Realized Sales in August, which is scheduled for Thursday. It’s not that this report is very significant for investors, but it may really force some slight fluctuation if the actual reading turns out to be worse than expected (13 points against 20 points earlier).
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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