Sterling (GBP) News, Charts and Analysis – Webinar
- UK Supreme Court ruling due shortly
- UK PM Johnson to meet EU leaders on the sidelines at the United Nations
Q3 2019 GBP Forecasts and Top Trading Opportunities
UK asset markets are flat to slightly lower at the start of the week with traders waiting for the UK Supreme Courts ruling on whether PM Johnson’s recent shuttering of Parliament was legal or not. The judgement is expected early this week and will have a direct influence on UK assets one way or another.
This week PM Johnson will meet with European leaders at the United Nations General Assembly meeting to discuss the latest Irish backstop developments. Recent positive commentary has boosted the value of the British Pound until a report this weekend that European Commission President Jean-Claude Juncker sees a return to a hard border in Ireland pushed GBP lower.
There is a lack of front-line UK economic data this week to influence trading but speaches from BoE governor Mark Carney and other UK central bank officials should be followed closely.
GBPUSD has drifted lower through the session but has not threatened the recent 1.1959 low made earlier this month.
GBPUSD Price Daily Chart (January – September 23, 2019)
The IG Client Sentiment Indicator shows retail traders are 65.0% net-long, a bearish contrarian bias.