Sterling comes under some light pressure to kick start the session

Technical Analysis

Author: Justin Low | gbpusd

Cable moves towards the 1.2900 handle

GBP/USD H1 11-02
ForexLive
With markets largely focused on US-China trade talks, let's not forget that it is also another big week for Brexit. The debate and discussion continues on 14 February and it remains to be seen if we'll have some form of vote on the day itself as Theresa May continues in search of a Brexit deal that will appease the majority of parliament members.

With the latest being that she could potentially rule out collaborating with Corbyn via a customs union compromise, she's certainly running short of options at this point.

Once again, I'll reiterate that we're no closer to a deal than we were back in December last year and we're no closer to seeing a delay in Brexit as well - or at least there aren't any convincing signs yet.

That kind of sentiment will continue to weigh on the pound in due course with bids/support in cable next seen close to 1.2900 now. 46 days to go. Tick tock, tick tock.

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