Ransquawk

The quotations on the British currency will be very interesting in the current week. For a long time, it has been under pressure from politics, and as the news of talks about the conditions in which the United Kingdom is about to leave the European Union comes to a head, they are most likely to weaken the Pound. The key is Thursday, after the inflation report we have BoE meeting. The rate hike seems to be in the price, but any comments on the political tone may negatively affect the GBP. Thursday should bring a direction for Pound for the nearest time. On the GBP/CAD weekly chart we have a May lows test. The negative reception of the BoE message on Thursday may help to break this support. Another target for the supply side would be this year’s minima in the 1.6750 regions.

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