The pound has been very sensitive to all things Brexit over the last nine months since the EU referendum but how did it trade on the day UK Prime Minister Theresa May officially triggered article 50?
With the process now underway, what are the next steps? Will negotiations begin immediately and if not when? What other factors do we need to consider? Most importantly, what does all this mean for GBPUSD?
Senior Market Analyst Craig Erlam discusses all of this and gives his analysis on the daily, 4-hour, 1-hour and 15 minute charts.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.