GBP/USD: Cable Gaps Down to Start a Big Week for the British Pound

GBP/USD Talking Points:

– The British Pound is heading lower to start a big week for the currency, as a number of data releases are on the calendar to go along with more twists and turns on the Brexit front. To read more about Brexit dynamics and impact on the British Pound, our own Justin McQueen discussed this in the article entitled, GBPUSD Vulnerable to Larger Losses as PM May Looks into the Brexit Abyss.

– Last week saw strength in GBP/USD as the pair re-claimed ground above the 1.3000 handle; but that theme began to reverse last Thursday ahead of the FOMC rate decision and sellers have been in-control ever since. This continues three months of rather aggressive mean reversion in the pair.

– Quarterly Forecasts have just been updated, and the Q4 forecast for GBP/USD is available from the DailyFX Trading Guides Page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX GuideArticle source: https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2018/11/12/gbpusd-price-cable-gaps-down-to-start-big-calendar-week-outlook-srepstans.html