British Pound

GBP/USD is Mostly Trading Flat with Signs of the Bearish Cave

GBPUSD Hourly (H1) Chart

GBP/USD: The pair is mostly trading flat with signs of the bearish cave in as talks of stimulus measures from central banks to support economic activity and the possibility of sharp rate cut adds pressure to GBP. GBP bulls are already suffering from no-deal Brexit woes but managed to gain hold above 1.28 handle on temporary USD weakness over surprise fed rate cut. But the pair has since lost most of the intra-day gains and is testing the 1.2800 handle as USD gained strength in the early European session. Traders now await US data and positive PMI’s would lead to further decline pushing price as low as the 1.275 handle. 

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