Brexit’s aftermath continues to drive the GBP pairs and it’s just the start, as the uncertainty grows every day about what the UK will face in terms of economy. In the short-term at least, today we’ll have the release of Current Account at 08:30 GMT, where we can expect a rise from -32.7B to -27.3B deficit, which is the latest consensus by analysts. This indicator is related with the Q2 of 2016 and it’s the latest one before the Final GDP’s release that will be done this Friday at the same time.
Technical overview for GBP/USD at H4 chart is showing a recovery from the fresh lows made after the Brexit referendum’s results and it’s looking to break the resistance level of 1.3528. A bullish trend line can be found and support the current Cable recovering’s structure. A consolidation above the 1.3528 level will expose the 1.3773 as the next key area. However, bear in mind that the overall outlook for Sterling remains pointing to the downside.
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Origin: FX BAZOOKA
