From our point of view, GBPUSD remains a very interesting pair to follow in the short term. The trend is bullish on the daily chart, and in the short-term, we expect it to complete our ABCD pattern around 1.41.
MONTHLY ANALYSIS Perfect correlation with our long-term analysis...
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U.K. Prime Minister Theresa May has provisionally agreed to pay about 40 billion Pounds ($55 billion) as part of the country’s exit from the European Union. The new research comes as the U.K. government debates what kind of trade deal it will seek, before talks on the future relationship start in March. Given the U.K.’s red lines on getting control of EU immigration and breaking free from the rulings of European judges, the EU side has said it can only offer a trade deal similar to the one it gave Canada. That accord was the best in its class, but would be a downgrade from the access Britain now enjoys, particularly for the financial services industry. As the terms of the future trading relationship become clear, there’s a risk of rebellion in the pro-Brexit camp, which is already uneasy about the size of the divorce bill.