While this is impressive, it also is a bit misleading from what I see. The British pound went back and forth over the last 24 hours, initially crashing through the 1. The British pound initially tried to rally during the session on Friday but found the 1. Your forecast is headed to your inbox. Discover our extensive calendar of free educational webinars and test your trading skills, risk-free, with an IG demo account.
XE Currency Data API
The British pound broke down significantly during the trading session to kick off the year on Wednesday, slicing through the 1. Overall, the market continues to punish the British pound because of the Brexit, and I think now that the volume is starting to pick up to.
The pair is likely to continue to struggle and will remain choppy and sideways as there are so many issues surrounding the EU economy and the. The British pound traders rallied the market during the trading session on Monday, breaking through the 1. While this is impressive, it also is a bit misleading from what I see. The market is likely to continue consolidating between the 1. There are plenty of reasons which will keep this market volatile.
The British pound rallied a bit during the week, reaching towards the 1. We have tested that area but look as if we are failing again. The British pound continues to try to break above the 1. Because of this, I anticipate that rallies are going to continue to be faded at these levels. The resistance in the pair extends up to the 1. Find out the fundamentals that look likely to drive future price action.
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The pair is often called 'The Cable', as the first transatlantic communication cable run across the floor of the Atlantic, connecting Great Britain with The United States, was used to transmit currency prices between the two economies. E-Mail Please enter valid email. Phone Number Please fill out this field. Country Please Select Please select a country.