Today, Wednesday 3rd October sees UK Prime Minister Theresa May deliver her keynote speech to the Conservative Party Conference.
This is of particulate note this year given the fragile position of Brexit negotiations and also Mrs May’s unsteady position as Tory Party leader and therefore Prime Minister.
Over the past 1-2 weeks, Sterling has been selling off, with GBPUSD losses from latter September now leaving the market vulnerable to a more bearish tone.
A GBPUSD move below 1.2894 would signal an intermediate-term bearish trend shift.
The UK benchmark equity index, the FTSE 100 has seen a firm rally since September, benefiting from the GBP weakness, and currently looks to extend those gains into early Q4.
See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/gbpusd-sits-above-key-support-into-theresa-mays-conference-speech/