{"id":131504,"date":"2018-08-06T14:59:13","date_gmt":"2018-08-06T18:59:13","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=131504"},"modified":"2018-08-06T14:59:13","modified_gmt":"2018-08-06T18:59:13","slug":"sterling-slumps-on-brexit-no-deal-fears","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/08\/sterling-slumps-on-brexit-no-deal-fears\/","title":{"rendered":"Sterling slumps on Brexit no-deal fears"},"content":{"rendered":"<div id=\"inves-4005205581\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 6, 2018<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><br \/>\n<img decoding=\"async\" src=\"\/images\/ma\/shutterstock_1012703530.jpg\" alt=\"\" width=\"160px\" height=\"auto\" \/><\/p>\n<div class=\"field-body\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\n<p>The British Pound has slumped to an 11 month against the Dollar following comments from UK Secretary of State Liam Fox over the weekend that there is a \u201c60-40 chance\u201d of a no-deal Brexit.<\/p>\n<p>This gloom and doom could compound to Bank of England governor Mark Carney\u2019s warning last week that the odds of a no-deal Brexit are \u201cuncomfortably high\u201d. With the GBPUSD tumbling below the 1.2950 level, the downside momentum could inspire bears to attack the Pound and potentially send the currency below 1.2900.<\/p>\n<p>There are a couple of additional factors that could ensure Sterling remains pressured in the medium-to-longer term. Rapidly diminishing expectations over another UK interest rate increase occurring any time soon following August\u2019s \u201cone and done\u201d rate hike is likely to pressure the Pound, while Brexit-related uncertainty is a risk to punishing the currency further to the downside.<\/p>\n<p>Regarding the technical picture, the GBPUSD remains heavily bearish on the daily charts. There have been consistently lower lows and lower highs while the MACD trades to the downside. Bears remain in control below 1.3000 with 1.2900 and 1.2860 acting as key levels of interest. For bulls to jump back into the game, the GBPUSD needs to trade back above 1.3030.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.forextime.com\/images\/maa\/gbpusddaily_526.png\" alt=\"\" \/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><em><strong>Disclaimer:\u00a0<\/strong>The content in this article comprises personal opinions and should not be construed as containing personal and\/or other investment advice and\/or an offer of and\/or solicitation for any transactions in financial instruments and\/or a guarantee and\/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.<\/em><\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\" rel=\"noopener\">www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime The British Pound has slumped to an 11 month against the Dollar following comments from UK Secretary of State Liam Fox over the weekend that there is a \u201c60-40 chance\u201d of a no-deal Brexit. This gloom and doom could compound to Bank of England governor Mark Carney\u2019s warning last week that the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-131504","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=131504"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131504\/revisions"}],"predecessor-version":[{"id":131508,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131504\/revisions\/131508"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=131504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=131504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=131504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}