Following a fast rally, the GBP/USD may enter a consolidation
Following 3.5 years of darkness, Britain has at last seen the light in the tunnel, and the GBP/USD has been 5% up just in the past two weeks, and traders seem to think that’s enough for now. One-week pound-dollar risk reversals slipped in favor of selling sterling and remain well in bearish territory amid high demand for put options as the UK Parliament rejected Boris Johnson’s timetable for adopting his withdrawal agreement bill. Nonetheless, the risk of no-deal Brexit is the lowest since the referendum, so the GBP/USD will hardly fall very…
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