GBPUSD

Cable dipped to session low at 1.3206, trimming some gains, as traders booked profits after three-day rally. Also, comments from PM May about customs union which is a big issue in divorce talks, weighed, as pound last sharp fall on 21 Sep was triggered when May talked about Brexit. As mentioned in the previous report, 1.32 zone marks solid support and so far contained dip which is seen as consolidation ahead of final push higher, as overall sentiment is positive on strong hopes on signals that Brexit deal could be reached on EU summit next week. Dip-buying remains favored, although stronger dips on week-end profit-taking, cannot be ruled out.

Res: 1.3246; 1.3257; 1.3276; 1.3297
Sup: 1.3206; 1.3170; 1.3154; 1.3133

GBPUSD

 

Interested in GBPUSD technicals? Check out the key levels

    1. R3 1.3329
    2. R2 1.3288
    3. R1 1.3261
  1. PP 1.3221
    1. S1 1.3194
    2. S2 1.3154
    3. S3 1.3126

 

The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Analysis feed

Latest Forex Analysis

Editors’ Picks

GBP/USD: Recovery falters just shy of 1.3400 ahead of UK PMIs

GBP/USD recovers nearly 90-pips from Friday’s NY low of 1.3306 but faces stiff resistance at 1.3400. Brexit optimism to keep the sentiment lifted around the pound. The focus remains on the UK Markit Preliminary PMIs ahead of BOE.

GBP/USD News

EUR/USD: Inverted hammer on D1, flash PMIs eyed

EUR/USD created a bearish inverted hammer candle on Friday, establishing 1.12 as key resistance. A bearish hammer reversal would be confirmed if the spot closes Monday below 1.1102. Better-than-expected German PMI is needed to avoid a bearish close.

EUR/USD News

Week Ahead – Phase-one trade deal and UK election aftermath

The US dollar remains at a critical juncture as Fed policy will be on hold for the foreseeable future and as we start to see an economic rebound come out of Europe. The world’s largest and strongest economy is likely to start to see economic growth slow in the fourth quarter.

Read more

Gold: Flatlined after the biggest weekly gain since September

Gold is lacking a clear directional bias in Asia, having eked out its biggest weekly gain in nearly three months. The yellow metal is currently trading at $1,474 per Oz, representing little or no change on the day.

Gold News

Central Bank Meetings and Flash PMI Reports, but It's Over except for the Shouting

After last week's flurry of events, market activity is set to slow over the next three weeks.  But what a flurry of events it was.  A new NAFTA apparently has been agreed. This week's highlights include the flash PMIs and several central bank meetings.

Read more

Forex Majors

Cryptocurrencies

Signatures