GBPUSD has been growing for the third consecutive trading session, but the Brexit concerns prevent “bulls” from being more active.
The British Pound continues growing against the USD on Tuesday afternoon. The current quote for the instrument is 1.2914.
It was a difficult month for the Pound. In the middle of August, the British currency was too “overbought”, but one can see it only now. Nevertheless, the British Pound have good chances to continue growing, although the potential seems rather limited. Overall, the range between 1.2750 and 1.3000 looks quite possible.
The Pound investors are still concerned about everything that lies beyond March 2019, because it very unclear and hard to predict. However, it’s quite obvious that investors and manufacturers added all possible risks that may be caused by the Brexit to their strategies long time ago and continue operating, and operating very efficiently we must say. Short-term declines of the Pound under such circumstances allow the national currency to be bought by those traders, who aren’t afraid of temporary “mood swings”.
There is little news that may be important for the Pound. Heiko Maas, the Minister of Foreign Affairs of Germany said today that the Brexit might be pretty “harsh” for the United Kingdom and that the European Union had to be ready for every possible scenario. We remind you that the British Prime Minister Theresa May and her Cabinet are trying to make the Brexit as “soft” as possible, but there are too many obstacles on their way to overcome, including the ones created by themselves.