(DAILY NOTION) GBP/USD - GBP Moves Lower as Brexit Worries Emerge, Next Mover: Brexit negotiations

Source: tradingview

The GBP/USD is trying to settle below the 1.350 while pull back for the recent highs. It is look like the agreement between the UK and EU would not be reached and the time is running out for Brexit trade deal and British pound found itself under pressure. GBP/USD will moved even lower if British leave EU without a deal.

Other than that, in line with the analyst expectation, the Bank of England (BOE) leave the interest rate unchanged. Forex traders will be focus on the November UK retail sales data which are forecast to decline by 4.2% m-o-m due to the lockdowns.

GBP/USD is testing its nearest support level at 1.3550. GBP/USD will move toward the next support level at 1.3500 if manage to settle below this level. GBP/USD need to stay above the 1.3550 level to maintain its upward momentum in the future. GBP/USD will head towards recent highs at 1.3625 if settles above this level.

FOLLOWME Overall Sentiment (As of 4:05 p.m.)

As shown above, the overall sentiment of FOLLOWME traders in this symbol leans towards long position with a ratio of 51.73% while the rest of 48.27% is long position.