|Day's Range||1.287 - 1.29|
|52 Week Range||1.2481 - 1.4377|
The British pound stabilized a bit during the trading session on Monday, as the 1.2850 level seems to be offering support yet again. Ultimately, I think that this market is still gyrating to the “thought of the moment” when it comes to Brexit.
London markets were up on Monday, as China announces its economy had grown by 6.6% in 2018 and investors wait for Prime Minister Theresa May to outline her latest Brexit proposal to parliament
If the market breaks below the 1.1350 level, then it could break down towards the 1.12 level. The AUD witnessed a massive resistance as it tried to break higher but has pulled back from there. It has been a bit bullish in the market and if the market breaks above the 110 level, then the market could witness a lot of upside pressure.
The pair is on a consolidative action post corrective price rally as investors await further updates from today’s UK parliament session before placing major bets.
Investing.com - The pound slid on Monday as British Prime Minister Theresa May prepared to outline her Plan B for Brexit, designed to break the deadlock in parliament by setting out proposals that are expected to focus on winning more concessions from the European Union.
Investing.com -The safe haven Japanese yen firmed against the dollar on Monday as investors digested the latest signs of a slowdown in China after data pointing to a dip in fourth quarter growth.
With a Plan B seemingly in the wind, Theresa May could be in hot water later today, with Parliament getting restless.
Investing.com - The Chinese yuan fell on Monday in Asia after data showed China’s GDP slowed in the fourth quarter.
Investing.com - This week investors will be continuing to monitor U.S.-China trade negotiations for signs of progress, while the ongoing government shutdown continues to delay some key U.S. economic reports.
It’s not just China’s economy that the markets are concerned with. An end to the government shutdown and more progress on trade talks is needed.
The U.S. dollar strengthens across the board as investors remained optimistic on U.S.-China trade talks, putting the greenback on track to finish the week in the green for the first time since mid-December.
The British pound fell significantly to kick off the week but found enough support at the 1.27 level to turn around and bounce rather drastically. This is a very interesting turn of events, and I think we are in fact looking at a potential opportunity.
The British pound pulled back during the trading session on Friday bouncing down from the 200 day EMA on the chart. This is also the downtrend line of the descending triangle that we have been recently trading and, so it makes sense that we got a little bit of a pullback after this explosive move higher.
London markets were up on Friday, after a potential tariff lift on Chinese exports is considered by the U.S.
The greenback picked up steam on Friday despite U.S. consumer optimism hitting its lowest level since Donald Trump was elected president and the government shutdown moving into its 28th day. The dollar was supported by a stronger-than-expected report for U.S. industrial production in December, in which manufacturing posted an impressive 1.1% gain from November.
The Euro continued with its back and forth momentum in the Thursday’s session as the 1.14 level has been important in the short term charts and also attracting a lot of interest. Going forward, the market will continue to grind higher, as it is trying to form a bit of rounded-bottom pattern but the 1.15 level above is likely to offer significant resistance and of course the 200 Day EMA level above. …Read MoreGBP/USD
GBP has managed to retain upper hand so far this week on Brexit related headlines and is expected to close positive for the day supported by increased risk appetite in broad market and hopes of possible article 50 extension.
Geo-political risk will remain the key driver ahead of the weekend, with Brexit and the possibility of a reduction in tariffs on Chinese goods on the table.
How, when and if Brexit will get done is still uncertain. Yet, the British pound rallied on Thursday. It appears, in the absence of anything better, no news is good news.
The British pound ekes out a gain against the U.S. dollar Thursday, as London politicking around an alternative Brexit plan continues.
The British pound initially pulled back during the trading session on Thursday, but then found enough momentum to reach to the upside and show signs of strength yet again. This being the case, we are approaching major resistance barriers.
Investing.com – The U.S. dollar little changed Thursday as mostly upbeat economic data was offset by strong rise in sterling on bets the U.K. will avoid leaving the EU without a trade deal.