Long Critical bullish (Brexit vs political uncertainty) The British Pound (GBP) playing critical levels because of Brexit risks and political uncertainty surrounding the UK Prime Minister election. GBP weakness was once again reflected by another week of downside in spot GBPUSD and upside in spot EURGBP, This week Pound HIGH RISK as New PM, Not sure how the market reacts with this news could be positive or negative, Overall Pound till under pressure because of Brexit due in Oct 2019.
Technically Pound looking some short term correction upside towards 1.2740 resistance, last week pound retail data beat expectations.
Support Levels:
S-1 = 1.2440
S-2= 1.2375
Resistance Level:
R-1 =1.2570
R-2 =1.2670
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