GBP/USD: Anti-brexit Chat Supporting the Bid - FXStreet
Valeria Bednarik,
chief analyst at FXStreet explained that the British Pound outperformed
this Monday, rallying up to 1.4518 against the greenback, its highest
since early February, with no clear catalyst behind Sterling's strength.
Key Quotes:
"Data coming from the UK
showed that manufacturing activity fell by less than expected in March,
as the CBI Industrial Trends survey come in at -11 during the current
month against -15 forecasted and up from March’s -14. Also, helping the
Pound were some anti-Brexit rhetoric from UK authorities and new polls
showing that the support for the Brexit plunged to 29% from previous
34%."
"The GBP/USD retreated from the mentioned high, but holds
around the 1.4500 figure, maintaining a positive technical tone, as in
the 4 hours chart, the price is well above a bullish 20 SMA, whilst the
Momentum indicator continues heading north well above its 100 level and
the RSI indicator consolidates around 70."
"Nevertheless a strong
upward acceleration through the 1.4520 level is required to confirm
additional gains for this Tuesday that can extend up to the 1.4600
region."
