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Sterling: Expectation For Additional Dips Ahead of Local Data

21 June 2017 12:23 PM BDT
Sterling: Expectation For Additional Dips Ahead of Local Data

FxGrow Daily Technical Analysis – 21st June, 2017 By FxGrow Research & Analysis Team Sterling: Expectation For Additional Dips Ahead of Local Data GBP/USD remains under threat after hung Parliament election. The pair awaited yesterday for a hawkish stance by BOE Carney, but as the Gov. terminated the possibility of potential rate hikes, the cable dropped pressure with 155 pips yesterday landing on 1.2603 low. on the other hand, PM May latest news indicates that Conservatives have failed to reach out to DUP Party with a deal to control Parliament seats majority ahead of spiky Brexit negotiations which adds more pressure on Pound. Sterling awaits local Sector Net Borrowing data, followed by Haldane speech this after noon, but the above ... For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

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