Intra-Day Market Moving News and Views
Update Time: 20 Sept 2019 03:30GMT

GBP/USD - 1.2544... The British pound finds renewed buying after paring yesterday's gains. Although cable rose to 1.2500 in European morning on Thursday, renewed selling emerged and price fell 1-tick below Wed's 1.2439 low to 1.2438 ahead of New York open.
However, the pair erased its losses and later rallied to a 2-month high at 1.2560 after European Commission President Jean-Claude Juncker said a Brexit deal could be reached before retreating to 1.2518 at Asian open today on profit-taking. Price then rebounded on usd's weakness.

Although cable's rally to 1.2560 yesterday suggests recent upmove from September's 34-month trough at 1.1959 has once again resumed, subsequent retreat would yield range trading before marginal gain, hence buying on dips is still recommended, however, risk of correction has increased due to loss of upward momentum.
Bids are noted at 1.2520-15 with stops below 1.2500.
While offers are tipped at 1.2560 with more above with stops above 1.2600.

There will no economic data from U.K. today but Bank of England will publish its quarterly bulletin (Q3) at 11:00 GMT and traders should pay attention to any Brexit headlines.
 

Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.

Analysis feed

FXStreet Trading Signals now available!

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


Latest Forex Analysis

Editors’ Picks

EUR/USD pressured around 1.13 after jump in US jobs

EUR/USD is trading around 1.13, down after US Non-Farm Payrolls shocked with a leap of 2.5 million jobs in May, contrary to all projections. The greenback is gaining while stocks are falling, a correlation breakdown. ECB stimulus previously supported the euro.

EUR/USD News

GBP/USD retreats from highs

GBP/USD is trading below 1.27, off the highs. The pound is struggling after Chief EU Negotiator Barnier reported little progress in Brexit talks. Robust US jobs support the dollar.

GBP/USD News

Gold sees weekly closing below $1700 - a caution for bulls

The steady decline in Gold prices (futures on Comex) accelerated on Friday, as the rates closed the week below the 1700 mark for the first time in three weeks at 1688.35. A weekly closing below the key 1700 level is unlikely to bode well for the bulls.

Gold News

Institutional demand exceeds Bitcoins supply

Greyscale floods the market with fresh money to satisfy the demand of its clients. Investors, willing to pay a 29% surcharge for exposure to Bitcoin without suffering the legal and operational inconveniences. Market remains at risk on the verge of new bullish territory.

Read more

WTI rallies above $39 as focus shifts to OPEC+ meeting

Crude oil prices built on Thursday's modest gains and rose sharply on Friday boosted by the upbeat market mood optimism surrounding Saturday's OPEC+ meeting. 

Oil News

Forex Majors

Cryptocurrencies

Signatures