GBP/USD Refreshes Downwards in the Direction of 1.2200 Brexit Crisis Combines With Risk-off Moods
Login

GBP/USD Refreshes Downwards in the Direction of 1.2200 Brexit Crisis Combines With Risk-off Moods

Estimated Reading Time: 2 minutes

Azeez Mustapha

Updated:


GBP/USD takes lower support around 1.2340, as direction reversal which was noticed – three days ago diminishes. This diminishing occurred during new challenges to feeling early this morning in Europe. Another factor affecting the GBP/USD is the anxieties: coming from Brexit talks; lately about NIP: Northern Ireland Protocol.

Market mood turned sour following China’s announcement of a reduction in the numbers for last month’s Retails Sales and Production. The sour mood: was supported by the anxiety of Covid upturn. Worries that Hungary won’t honors the call to place an embargo on energy products from Russia, and increase of military activity in Donbas keeps supports the risk-off mood.

GBP/USD Refreshes Downwards in the Direction of 1.2200 Brexit Crisis Combines With Risk-off Moods

More Promoting Factors Affecting GBP/USD

In the United Kingdom, the Prime Minister prepares: to adjust the NIP hoping to change the EU’s stand. It is anticipated that the UK  discloses its strategy for one-sided changes in the NIP by tomorrow. The alliance (EU) cautioned such a move with a stoppage in a trade with the United Kingdom. This will consequently affect the GBP/USD.

Contrary to the background, the S&P 500 Futures fell by 0.80 percent. Contrary to the aforementioned, Wall Street experienced an upward-trend a day before. The United States’ ten-year Treasury yield strives to lengthen the recovery actions of three days ago, as the bond voucher falls by 2.5 bps towards near 2.9 percent at the time of publication.

Conclusion
Rounding off, the risk-off mood and feelings relating to Brexit apply a downward force on the GBP/USD prices. Nevertheless, the absence of important data or events today might cause some losses to the pair if the western market is in the favor of risk appetite. Therefore, high-quality promoters will be the focus before tomorrow’s United Kingdom job statement.

You can purchase Lucky Block here: Buy LBlock

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News