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GBP/USD Daily Forecast - 30 January

Monday, Jan 29 2018
GBP/USD Daily Forecast - 30 January

There were no data releases from the UK yesterday, with focus on Brexit developments. The European Union on Monday denied Britain any vote on EU policy issues during its transition out of the bloc and warned London not to fall behind on outstanding divorce matters.  Britain is set to leave the EU in March 2019 and the remaining 27 member states have now prepared their joint stance on what they expect of London during a transition period until the end of 2020.

British Prime Minister Theresa May has come under fire over her Brexit strategy again in recent days, with rivals criticising her for largely accepting the EU push for a status quo transition during which, however, London would not have any vote on EU affairs. EU ministers took just two minutes endorse a position drafted by European Commission officials to offer Britain a 21-month transition period during which it would follow all EU rules but “without institutional representation”.

 

There will be no major data releases from the UK tomorrow. In the US session CB Consumer Confidence figures will be released. Analysts predict incline to 123.2.

 

Figures to watch:

 

CB Consumer Confidence (Tuesday 16:00)

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