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July, 9 - GBP/USD is having a pretty bad day

Uncertainty in Great Britain surrounding Prime Minister position as well as Brexit process which was put on hold is getting to pound sterling. Combined with the USD growing and gaining points we are now seeing that the stability and expensiveness od GBP are under threat. It is totally possible that we are not going to see traders’ interest in GBP renewed for some time to come. That would be the right thing for us to do, but for GBP it would be a disaster as it needs more and more support as Boris Johnson – the worst possible candidate from international point of view – is most likely going to become the next Prime Minster of the UK.

 

gbpusd 9.07.2019

 

This means that virtually we are going to get the second Trump but this time he is going to rule the UK – one of the most important economies in Europe and one of the most popular currencies in the market. Right now the perspective of this development can’t help but scare away trades and investors alike. That is why we see the chart for GBP/USD going so low today. Well that and the fact that USD is only getting more power this week.

The fact that British politicians are more aimed at resolving Brexit than in the national economy is also taking a toll on the national currency of the UK. All of these factors combined result in a horrible performance of GBP today.

 

In order not to become a victim of GBP/USD volatility use our trading signals.

 

 

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