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A relatively quiet week from the U.K. in terms of economic data and headlines, so it’s likely Brexit uncertainty remained in effect to push Sterling pairs consistently lower the whole week.

Overlay of GBP Pairs: 1-Hour Forex Chart
Overlay of GBP Pairs: 1-Hour Forex Chart

United Kingdom Headlines and Economic data


  • What the European Parliament elections mean for Brexit
  • Broad Sterling weakness on the session without a direct catalyst from the U.K., which arguably means that traders were reacting to the EU Parliament elections that saw big losses for the Conservative and Labour parties, and possibly on the uncertainty of who will be the next British Prime Minister and whether or not that person can deliver anything besides a no-deal Brexit. Also keep in mind that it was a bank holiday in the U.K., so the lower liquidity environment may have exaggerated that move lower.