Source: PaxForex Premium Analytics Portal, Fundamental Insight The UK CBI Distributive Sales Survey for July is predicted at 21. Forex traders can compare this to the UK CBI Distributive Sales Survey for June, reported at 25.

Source: PaxForex Premium Analytics Portal, Fundamental Insight The UK Construction PMI for June is predicted at 63.8. Forex traders can compare this to the UK Construction PMI for May, reported at 64.2.

Source: PaxForex Premium Analytics Portal, Fundamental Insight

Source: PaxForex Premium Analytics Portal, Fundamental Insight

Source: PaxForex Premium Analytics Portal, Fundamental Insight

Source: PaxForex Premium Analytics Portal, Fundamental Insight

UK PM Johnson’s push for a December 12th 2019 election was defeated in Parliament and forex traders will now have to wait what will follow after the EU granted a Brexit extension until January 31st 2020. The GBPUSD retreated from its multi-month high as uncertainty surrounding Brexit rose. How will today’s economic data impact price action in this currency pair? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

Forex traders will pay very close attention to the EU summit over the next two days as new hurdles emerged in regards to a Brexit deal. The British Pound surged to five-month highs amid optimism that a deal will be reached, but time is running out and divisions remain. After the UK labor market showed job losses earlier this week, forex traders will get retail sales data this morning. How will this influence the GBPUSD? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

Forex traders will focus on developments out of the UK as Parliament turned hostile and opposition parties split on how to proceed next. The British Pound has been under pressure, but the GBPUSD stabilized at support after the Trump impeachment inquiry. The US political issues are bigger than that of the UK, will this rally the GBPUSD off of support levels? The sole UK economic data point today showed an improvement in consumer confidence which remains in negative conditions. Will US data provide the next catalyst for this currency pair?

Following the ECB interest rate cut and restart of QE last week, the Fed’s interest rate cut yesterday, this morning’s Bank of Japan and SNB decision to keep interest rates unchanged, the Bank of England’s interest rate announcement is expected to show no change. With wage pressures accelerating, the British central bank is likely to remain on the sidelines which will support a stronger British Pound moving forward. Can the rally in the GBPUSD extend as monetary policies between the US and the UK diverge or is price action going to partially reverse its advance?

With Brexit inching closer every day and a no-deal Brexit becoming more likely, the British Pound has sold-off severely. Price action in the GBPUSD is now approaching a key support area with the lower band being the intra-day low of the post Brexit referendum results sell-off. Today’s UK employment data is expected to show solid employment gains as well as rising wages. Will this boost the British Pound off of strong support levels and allow for a short-covering rally in the GBPUSD?

After the GBPUSD slid to new multi-month lows due to the rise in Brexit tensions which elevated the chances of a no-deal Brexit, forex traders will get key inflation data this morning. The Bank of England has reminded markets that their mandate is not Brexit, and with inflationary pressures on the rise they would raise interest rates. While many analysts believe this to be an unlikely outcome, the risk for a more hawkish central bank persists. Will today’s inflation data inspire a short-covering rally in the GBPUSD?

Today’s focus for British Pound trades will be the release of PMI data as well as speeches given by Bank of England MPC members Cunliffe in Lisbon and Broadbent in London. Many forex traders will await if Boris Johnson, currently in the lead to become the next UK Prime Minister, will be able to take it all the way and secure the top job in UK politics. The GBPUSD has been sliding to the upper band of its horizontal support area, will bulls launch a short-covering rally?

Following yesterday’s UK GDP report for April which saw the economy contract by 0.4% monthly, forex traders will keep a close eye on today’s employment data. Despite yesterday’s mix of disappointing UK economic data, which also featured industrial and manufacturing production as well as construction data posting monthly declines, the British Pound remained stable at solid support levels. Will this trend continue and allow bulls to power the GBPUSD to the upside?

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here is the key factor to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here is the key factor to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here is key factor to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades:

Here is the key factor to keep in mind today for British Pound trades:

Here is the key factor to keep in mind today for British Pound trades:

Here are the key factors to keep in mind today for British Pound trades: