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GBP Price Outlook: Traders Hold Their Nerve Despite Brexit Pessimism
GBPUSD has steadied close to the 1.30 level, with no sign of panic selling on the continuing lack of progress on Brexit. However, there are at least three scenarios which might lead to a further leg lower: 1. A breakdown in the Brexit talks between the ruling Conservative Party and the opposition Labour Party. So far both sides have said the talks are not going very well. 2. Large losses for the Conservatives in the European Parliament elections that begin on May 23. A YouGov poll for The Times newspaper, published Monday, showed the Conservatives in a lowly fifth place as voters turn against the two major UK ... (full story)