Jump to content

British Pound Latest – UK PM Boris Johnson is Set to Resign, GBP Unfazed


Recommended Posts

Jul 7, 2022 | DailyFX
Nick Cawley, Strategist

GBP/USD - PRICES, CHARTS, AND ANALYSIS

  • Boris Johnson expected to hand in his notice after a swathe of Tory MPs resign
  • PM Johnson has led the UK government since July 2019.

Prospect of Boris Johnson's Resignation Could Boost Pound (GBP),  Strategists Say - Bloomberg

Boris Johnson is expected to hand in his resignation today, according to a raft of well placed media sources, sparking a new leadership contest. Johnson has been under extreme pressure to quit after a series of gaffes left his position untenable.

The latest talk is that Boris Johnson will resign later today but will stay on as caretaker Prime Minister until a new leader is chosen in the Summer.

Sterling is little changed against a range of currencies with expectations that the PM would have to resign in the coming days already priced in. GBP/USD is near a fresh multi-month low, due mainly to the strength of the US dollar. The US dollar basket (DXY) printed a fresh 20-year high on Wednesday.

 

What is your view on the British Pound – bullish or bearish?

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      22,150
    • Total Posts
      93,045
    • Total Members
      42,540
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    Thomas0012
    Joined 08/06/23 05:01
  • Posts

    • Elliott Wave Analysis TradingLounge Daily Chart, 8 June 23,   TRON/U.S.dollar(TRXUSD) TRXUSD Elliott Wave Technical Analysis Function: Follow trend     Mode: Motive Structure: Impulse Position: Wave III Direction Next higher Degrees: wave (I) of Impulse Wave Cancel invalid Level: 0.045 Details: Wave III is usually equal to 1.618 multiplied Length of Wave I. TRON/U.S.dollar(TRXUSD)Trading Strategy: TRON is still in an uptrend. But there may be a correction in wave ((2)) before rising again, So Retracement of wave ((2)) usually .50 or .618 x Length wave ((1)). TRON/U.S.dollar(TRXUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator has a Bullish momentum. TradingLounge Analyst: Kittiampon Somboonsod, CEWA Source : Tradinglounge.com get trial here!   Elliott Wave Analysis TradingLounge 4H Chart, 8 June 23,   TRON/U.S.dollar(TRXUSD) TRXUSD Elliott Wave Technical Analysis Function: Follow trend     Mode: Motive Structure: Impulse Position: Wave ((2)) Direction Next higher Degrees: wave III of Impulse Wave Cancel invalid Level: 0.0714 Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1)) TRON/U.S.dollar(TRXUSD)Trading Strategy: TRON is still in an uptrend. But there may be a correction in wave ((2)) before rising again, So Retracement of wave ((2)) usually .50 or .618 x Length wave ((1)). TRON/U.S.dollar(TRXUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator has a Bullish momentum.
    • Look Ahead to 8/6/23: eurozone, Japan growth; US initial jobless claims; Crest Nicholson, MITIE earnings Growth is in focus as investors await eurozone and Japan GDP data, plus keep an eye out for US initial jobless claims ahead of the Fed monetary policy meeting next week. Crest Nicholson and MITIE post results. Angeline Ong | Presenter, Analyst and Content Editor, London | Publication date: Wednesday 07 June 2023              
    • With the price of Brent having failed between $77.50 and $78.50 three consecutive times in the past month, we will go short at $76.70 with a downside target at $72.00 and a stop-loss at $78.55 on a daily chart closing basis. Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Wednesday 07 June 2023
×
×
  • Create New...