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Only a handful of medium-tier reports are due from the U.K. this week, which leaves pound traders to watch The Crown – I mean, Brexit-related updates – more closely.

Medium-tier U.K. data (starting Nov. 19)

  • CBI industrial order expectations index to improve from -37 to -30 in Nov
  • Order volumes still contracting but likely at a slower pace
  • Gov’t public sector net borrowing to dip from 8.7B to 8.5B GBP in Oct
  • Smaller deficit to signal that government spending probably decreased

Brexit-related events

  • Focus is on opinion polls leading up to the Dec. 12 general elections
  • Opinium Research: Conservatives stood at 44% compared with Labour’s 28%
  • U.K. PM Johnson: All Conservative Party candidates pledged to back his Brexit deal

Technical Snapshot

GBP Pairs Long-Term Moving Averages from MarketMilk
GBP Pairs Long-Term Moving Averages from MarketMilk
  • However, stochastic shows that EUR/GBP is seeing oversold conditions while both GBP/AUD and GBP/CAD are already overbought
GBP Pairs Stochastic from MarketMilk
GBP Pairs Stochastic from MarketMilk