GBPUSD collapses on May’s comments

2:37 PM 21 September 2018

Theresa May said the Brexit talks were at an impasse, sending GBPUSD sharply lower on Friday. The pound has been exposed throughout the Friday session as European leaders suggested a deal was moving away and remarks from the British PM only confirm those concerns. GBPUSD was moving upward for the past 4 weeks as traders hoped for an imminent Brexit deal but today’s developments pour cold water on these hopes. GBPUSD could see the biggest losing candle this year today unless it recovers, the pair is down 1.4%. Traders can look to 1.3040 for a short term support.

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GBPUSD collapses on May’s comments

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