Pound Sterling Price News and Forecast: GBP/USD vulnerable for another fall

GBP/USD clings to recovery gains near session tops, around mid-1.2800s

The GBP/USD pair built on its steady intraday positive move and refreshed daily tops, around mid-1.2800s during the early European session.

The British pound witnessed some short-covering move on the first day of a new trading week ahead of a crucial vote on the UK government's so-called Internal Market Bill. The legislation drew a lot of criticism and fueled market fears that the UK will crash out of the European Union at the end of the transition period.

However, reports indicated that Alliance parties could table an amendment aimed to block the bill from proceeding. Adding to this, Ex-Prime Ministers Tony Blair, along with Sir John Major urged MPs to reject the government's attempt to override parts of Withdrawal Agreement and helped eased concerns about a no-deal Brexit. Read more...

GBP/USD: Debate in parliament to leave the pound vulnerable for another fall

GBP/USD has been licking its wounds after last week's Brexit-related blows. The UK Parliament is set to debate a controversial bill that has aggravated the EU, which is expected to pummel the pound, FXStreet's analyst Yohay Elam reports.

Key quotes: "Despite having a large majority in parliament, PM Boris Johnson's victory in passing a controversial Brexit-related bill is unclear. The House of Commons will debate the Internal Markets bill, legislation which violated the Withdrawal Agreement – as ministers openly admit. The PM seems to have changed his mind on allowing for a customs border on the Irish Sea." Read more...

GBP/USD looks attractive, odds of disorderly Brexit meaningfully lower – Goldman Sachs

According to the analysts at the US investment banking giant, Goldman Sachs, the odds of a damaging no-deal Brexit are lower, which makes the sterling look attractive at current levels.

Key quotes: (via Reuters) "Odds of a damaging no-deal Brexit are "meaningfully lower" than the market is implying."

"The market was pricing 40%-45% odds of Britain ending its post-Brexit transition period without reaching a free-trade agreement with the European Union." Read more...

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