Monday, May 20, 2019
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GBP/USD Reaches Brexit Day Lows

GBP/USD Cable - Econ Alerts

GBP/USD Cable - Econ AlertsThe GBP/USD pair has reached the low from the day the UK voted to leave the EU. On June 23rd, 2016 the cable (GBP/USD) fell to 1.323 and over the past year, it has fallen further and struggled to move much higher (at the lowest level it reached 1.190).

The uptrend of the Pound as seen from the chart indicated by the blue channel lines has more to do with Dollar weakness rather than strength in the Pound. The green line represents a possible level of resistance.

A report only released from IHS Markit has indicated that growth in the UK construction industry has slowed down to an 11-month low in July. To read the report which is quite short you can find it here.

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