Monday 28th October: Weekly technical outlook and review.
Brexit-related fears along with a strengthening greenback further weighed on the British pound Friday, positioning the H4 candles a few points north of the 1.28 handle.
Friday 25th October: Dollar index testing weekly resistance at 97.72 – prepare for a possible pullback.
Friday 25th October: Dollar index testing weekly resistance at 97.72 – […]
Thursday 24th October: Technical outlook and review.
The British pound was left mostly unchanged against the buck Wednesday, with the GBP/USD currently trading a few points south of 1.29 as a lack of clarity and rising odds of a general election continues to haunt markets. Tuesday witnessed a 0.68% decline after MPs rejected UK PM’s Boris Johnson’s plan.
Wednesday 23rd October: Pound sinks as UK Parliament rejects UK PM Boris Johnson’s Brexit timetable.
Tuesday had the Australian dollar a shade lower vs. its US counterpart, erasing 11 points, or 0.17%. Although snapping a four-day winning streak, hopes of a trade resolution between the US and China appears to be supporting trade-sensitive antipodeans.
Tuesday 22nd October: Pound hovers south of 1.30 ahead of Parliament Brexit vote
Sterling attempted to overthrow the key figure 1.30 Monday, though failed to muster enough oomph to sustain gains as further delays were put into the Brexit process.
Monday 21st October: Weekly technical outlook and review.
Sterling savoured another stellar week, notching gains in excess of 300 points and closing not too far off session highs at 1.2989. Technically, focus has shifted to supply at 1.3472-1.3204 and long-term trend line resistance (etched from the high 1.5930), following last week’s dominant push through the 2019 yearly opening level at 1.2739.
Friday 18th October: USD sellers strengthen grip and maintain position sub 98.00.
The pound remained at the mercy of breaking Brexit news Thursday, with early reports that the DUP is still dissatisfied with the draft proposals drawn up by UK and EU negotiators.
Thursday 17th October: Technical outlook and review.
Thanks to sub-standard US retail sales and ongoing Brexit-related optimism, EUR/USD bulls continued to strengthen their grip Wednesday, adding more than 40 points and recording a second successive gain.
Wednesday 16th October: Dollar index languishing around the lower end of the week’s range ahead of packed macroeconomic calendar.
Key risk events today: UK CPI y/y; UK PPI Input m/m; […]
