Pound Sterling Get Dragged Down As MPs Reject Brexit Timetable

  • Oct 23, 2019 BST
  • Team Kalkine
  • Post the House of Commons voted against the PM Johnson’s Brexit timetable, Pound registered a strong reversal bearish chart pattern on the daily price chart. The Moving Average Convergence Divergence oscillator hovered below the 9-day EMA, with 12-day EMA quoting below 26-day EMA. At the time of writing (23 September 2019, before the market close at 09:10 AM GMT) GBP/USD traded 1.15% off one month high ($1.3014 as on October 21, 2019) at $1.2862.0.

With Bank of England reducing the interest rates to a historic low level, the spotlight is back on diverse investment opportunities. 

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