Technical Analysis

Looking at the GBPUSD weekly chart 

Weakening outlook for GBP

The situation for Britain coming out of the EU Summit looks at putting further uncertainty ahead for the GBP. No hint of a deal and more problems than solutions. Admittedly the problem is the same one, what to do about the N. Irish Border, but the outlook for a solution is waning in my view.

The weekly outlook for the GBPUSD shows a consistent resistance off the 50EMA and lower prices look imminent from the Price action against the moving averages. Retraces up towards the 50EMA could by sold with stops riding above for a longer term trade idea

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