GBP/USD

There is still very much of a mixed feel to the outlook on Cable. For weeks now as the UK election campaign has been running, there have been swings higher and lower depending upon polling data and assessment of the various parties’ performances in certain debates. Essentially a trading range of around 250 pips between $1.2765/$1.3010 is in place. Momentum indicators have moderated back to a more neutral positioning, but still retain a positive bias. It points to the fact that forex markets anticipate a Conservative victory of some description. We continue to look to play this range of 250 pips until the election on 12th December. There is minor resistance at $1.2950 whilst building up further at $1.2975 where the range highs kick in. The support is initially with Friday’s low at $1.2875 whilst $1.2820 is far more considerable being multiple recent lows but also the 23.6% Fib retracement of the October rally. Hourly momentum is very much ranging too.

GBPUSD

 

 

Risk Warning for Financial Promotions

Hantec Markets' various market reports and commentary are issued by Hantec Markets Limited, who is authorised and regulated by the Financial Conduct Authority (FCA) in the UK, No. 502635. The reports are prepared and distributed for information purposes only.

Trading in Foreign Exchange (FX), Bullion and Contracts for Differences (CFDs) is not be suitable for all investors due to the high risk nature of these products. Forex, Bullion and CFDs are leveraged products that can result in losses greater than your initial deposit. The value of an FX, Bullion or CFD position may be affected by a variety of factors, including but not limited to, price volatility, market volume, foreign exchange rates and liquidity. You may lose your entire initial stake and you may be required to make additional payments. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions. Before deciding to enter into FX, Bullion and/or CFD trading, you should carefully consider your investment objectives, level of experience, and risk appetite. You should only invest in FX, Bullion and/or CFD trading with funds you are prepared to lose entirely. Therefore, only your excess funds should be placed at risk and anyone who does not have such excess funds should completely refrain from engaging in FX and/or CFD trading. Do not rely on past performance figures. If you are in any doubt, please seek further independent advice.

The reports do not constitute personal investment advice, nor do they take into account the individual financial circumstances or objectives of the clients who receive it. All information and research produced by Hantec Markets is intended to be general in nature; it does not constitute a recommendation or offer for the purchase or sale of any financial instrument, nor should it be construed as such. All of the views or suggestions within the reports are those solely and exclusively of the authors, and accurately reflect their personal views about any and all of the subject instruments and are presented to the best of the authors' knowledge. Any person relying on these reports to undertake trading does so entirely at his/her own risk and Hantec Markets does not accept any liability.

© 2014 Hantec Markets Limited

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD trades above 1.18 ahead of US retail sales

EUR/USD is trading above 1.18, off the highs. The dollar advanced along with higher yields, the ongoing fiscal impasse, and upbeat jobless claims. The focus shifts to US retail sales for July. 

EUR/USD News

GBP/USD trades above 1.3050 ahead of more reopening steps

GBP/USD is trading above 1.3050, off the lows. The UK is set to ease some restrictions over the weekend, extending its gradual exit from lockdown. The US dollar is taking a break after gaining and ahead of retail sales. 

GBP/USD News

Gold trades with modest losses, below $1950 level

Gold traded with a mild negative bias through the early European session and was last seen hovering near the lower end of its daily range, around the $1945 region.

Gold News

Forex Today: Three reasons for the greenback comeback, all eyes on retail sales

The US dollar has been gaining ground once again as the bond-yield pendulum swings up again. Washington's fiscal impasse, a weak bond auction, upbeat jobless claims, and Sino-American relations will make way for retail sales figures for July. 

Read more

WTI drops to $42 amid poor Chinese data led risk-aversion

WTI (futures on Nymex) has come under fresh selling pressure and attacks the $42 level, as risk-aversion seeps into the European session and diminishes the demand for the higher-yielding assets such as oil.

Oil News

Forex Majors

Cryptocurrencies

Signatures