GBP/USD declined on Friday as sterling was weighted as investors braced for Britain's beginning the formal process of leaving the European Union next week. Investors worry that Prime Minister Theresa May's invoking Artic…
GBP/USD declined on Friday as sterling was weighted as investors braced for Britain's beginning the formal process of leaving the European Union next week.
Investors worry that Prime Minister Theresa May's invoking Article 50 next Wednesday may trigger a period of political jousting with its EU partners that will lay bare the scale of the risks to the economy from 18 months of talks.
Greenback firmed ahead of a key vote on the U.S. healthcare overhaul plan seen as a test of President Donald Trump's self-described skills as a negotiator.
Further upside in this pair is expected to be limited as the pair finds strong resistance at 1.2582 which should upside and bring decline towards lower levels in the short term.
To the upside, immediate resistance can be seen at 1.2510, a break above this level would expose the cable to next resistance level at 1.2582 levels.
To the downside strong support can be seen at 1.2437, a break below at this level will open the door towards next level at 1.2400.
