Brexit tensions are back again
David Frost accuses the EU to chase “a relatively low-quality trade agreement”.
Share this:
Earlier this week, Britain’s Brexit chief negotiator David Frost accused the EU to chase “a relatively low-quality trade agreement coming with unprecedented EU oversight of our laws and institutions”. Yesterday, Mr Barnier responded: “I would not like the tone that you have taken…”.
Later today, Markit May Manufacturing PMI will be published, expected at 37.2. May Services PMI is expected at 24.0.
Later today, Markit May Manufacturing PMI will be published, expected at 37.2. May Services PMI is expected at 24.0.
From a technical point of view, on a daily chart, GBP/USD has posted a pull back on a former rising trend line before facing further weakness as it stands below its 50-day moving average (in blue). The daily RSI stands within its selling area between 50 and 30. Readers may therefore consider the potential for further down move below horizontal resistance at 1.2440. The nearest support would be set at 1.1950 and a second one would be set at set at horizontal support at 1.1685 in extension.
Source: TradingView, GAIN Capital
Earlier this week, Britain’s Brexit chief negotiator David Frost accused the EU to chase “a relatively low-quality trade agreement coming with unprecedented EU oversight of our laws and institutions”. Yesterday, Mr Barnier responded: “I would not like the tone that you have taken…”.
Later today, Markit May Manufacturing PMI will be published, expected at 37.2. May Services PMI is expected at 24.0.
Later today, Markit May Manufacturing PMI will be published, expected at 37.2. May Services PMI is expected at 24.0.
From a technical point of view, on a daily chart, GBP/USD has posted a pull back on a former rising trend line before facing further weakness as it stands below its 50-day moving average (in blue). The daily RSI stands within its selling area between 50 and 30. Readers may therefore consider the potential for further down move below horizontal resistance at 1.2440. The nearest support would be set at 1.1950 and a second one would be set at set at horizontal support at 1.1685 in extension.
Source: TradingView, GAIN Capital
Latest market news
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
EUR/USD weekly outlook: Oil, inflation and NFP in focus
After coming under significant pressure in recent weeks, the EUR/USD came off its lows to finish the week on a positive note on Friday, albeit with only a mild rebound. That was not enough to prevent the exchange rate falling for the third consecutive week, as the US dollar and bond yields rallied across the board.
USD/JPY Weekly Outlook: Payrolls loom as US rates remain the dominant driver
Strong US growth and hawkish Fed pricing continue to support USD/JPY, while intervention risk appears to be kicking in at lower levels
EUR/USD Q4 2026 Outlook: Euro at a Crossroads as Fed, ECB Tighten 9 25 2026
EUR/USD enters Q4 at a pivotal inflection point as competing Fed-ECB policy paths and persistent inflation risks collide with major technical support.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.