Ransquawk

One of the main instruments on the currency market remains traditionally the British Pound. Typically, the pressure on this currency is related to the turmoil in brexit negotiations. Recently, economic factors have also influenced this. Yesterday the PMI for industrial output was much weaker than expected. In recent days, therefore, the weakening of the British currency is noticeable. Interestingly, this takes place after a large correction. The clear situation seems to be on the EUR/GBP pair, where the next comparably large correction may end, and the price also reflects from the readable level of support. The potential scenario seems to be the continuation of the several-month upward trend.

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Ransquawk