GBP/USD Uptrend Hanging By a Thread on Brexit Latest, USD Gains
ASIA PACIFIC MARKET OPEN – THERESA MAY, BREXIT, GBP/USD, US DOLLAR, US SERVICES PMI Theresa May sent Sterling tumbling, calling Brexit negotiations with EU at an impasse US Dollar recovered after Thursday’s selloff, gains halted on weak services PMI data GBP/USD uptrend hangs by a thread: Bearish engulfing and break under a rising line The British Pound plummeted against all of its major counterparts on Friday as the latest Brexit news accelerated a selloff in Sterling that was already in progress. After Friday’s Asia Pacific trading session, the US Dollar slowly launched a recovery after Thursday’s lackluster performance. Haven bids poured into the liquid currency after European benchmark stock indexes pared some gains after gapping to the upside. UK Prime Minister Theresa May , after being grilled by EU heads of state on her ‘Chequers’ exit plan the day before , then announced that they are at an impas...
