UK’s PM supported the dovish-President theme yesterday. Calling for an early election on December 12 he triggered a fresh sentiment biased to the downside.
The direction of the pound in the next few trading sessions will depend on whether the EU grants an extension and for how long.
GBP/USD Corrects Deeper, Now Eyeing 1.27
The pound broke below the 1.28 handle yesterday following the latest headlines.
Cable traders could send prices lower for a deeper correction, where wave C of the zigzag-looking pattern could complete as the chances of EU delaying the response to UK’s Brexit extension request increase.
