forex GBP/USD: Opinion Poll Shows Narrowing Lead of the Conservative Party

[Anzo Lim 0]

https://jump.wikifx.com/83348CF26389B46D

According to the latest MRP poll conducted by YouGov, the ruling Conservative Party can secure 339 seats, while the opposition Labour Party can win 231 seats in general election on December 12th.

 

The market estimates a narrowing of Conservative Party’s lead over the Labour Party. For the Tories, the greatest weakness is years of tight monetary policy, including inadequate investment in public health and the police sector, had led to social issues such as poor public security and difficulty in accessing medical services which the public felt increasingly upset about.

 

Statistics from Britain showed that industrial output didn’t look encouraging, while October’s GDP is below estimation. The UK’s general election this Thursday will cause great volatility in the pound. Technically, there are signs that the GBP may be overbought.  

 

Daily pivot points for GBP/USD: 1.3134---1.3160

 

S1: 1.3080                  R1: 1.3189

 

S2: 1.3038                  R2: 1.3256

Edited December 11, 2019 by Anzo Lim