GBPUSD remanisn bearish below 1.3300

GBPUSD remains under downward pressure as a result of the uncertainty generated regarding the Brexit delay.

From a fundamental point of view:

- GBP short interest is peaking new highs among Investment Banks.
-If the expected Brexit delay is approved, Theresa May would need to approve the agreement before the 2019 European Election.
- No clear scenario concerning the GBP; uncertainty is over the table creating bearish pressure.
-USD remains bearish as well due to Jerome Powell´s announcement forecasting no hikes for 2019; however USD still stronger than the GBP.


From a Technical point of view:

-Major big player are spotting 1.3250-1.3300 as a clear resistance, as a result after over 4 tests during several months, GBPUSD remains bearish below this level.
-Next critical support level SMA 50.

Good job to the day traders that have been shorting GBPUSD after testing the 1.3250 levels!

Enjoy your trading!