GBP/USD (current price: 1.2499)
The British Goods Trade Balance came in below the expected -11.3 billion, at -12.7 billion, despite the recent weakness in the Pound. The currency remained stable, as the Dollar traded in a wild fashion because of the elections. Cable finished higher by almost 0.5% after hitting 1.23 in early trading. The pair is less volatile this morning, as financial markets settled down. The Brexit talks will likely weigh heavily on the pair later on this month as well.
Our assessment: GBP/USD is still in a short-term uptrend, despite the volatile week. Traders might be focused on the 1.25 level once again.
