Intra-Day Market Moving News and Views
Update Time: 11 Dec 2019 04:30GMT

GBP/USD - 1.3135... The British pound proved quite tricky to trade yesterday as despite initial drop to session lows at 1.3133 in European morning, price gained to 1.3190 on cross-buying in sterling especially vs euro. Renewed buying at 1.3156 in New York morning lifted the pair to an 8-1/2 month peak at 1.3215 on expectation that the Conservatives Party will win Thursday's election with a majority. However, the pair swiftly erased its losses and tumbled to 1.3107 (Reuters) in Australia after YouGov's final poll showed a narrowing lead for the Conservatives.

Cable's selloff from 1.3215 to 1.3107 suggests upmove from September's trough at 1.1959 has made a temporary top there and stronger retracement to 1.3066 would be seen.
Offers are seen at 1.3140/50 and more above at 1.3160/70 with stops building up above there whilst initial bids are noted at 1.3050/60.

In the absence of major economic data from UK, market focus remains on the election on Thursday and with no more polls expected to be released, one should keep an eye on the eur/gbp cross.

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

Latest Forex Analysis

Editors’ Picks

GBP/USD surges toward 1.3150 amid upbeat UK data, USD weakness

GBP/USD has been extending its gains after the British CBI Trends figure beat expectations. Markets are pricing a BOE rate cut less aggressively. The US dollar is on the back foot across the board amid reduced coronavirus fears.

GBP/USD News

EUR/USD struggles to recover amid Trump's tariff threats

EUR/USD is trading below 1.11, close to the three-week lows, as President Trump continues threatening the EU with car tariffs. Markets remain concerned about the spreading coronavirus disease. 

EUR/USD News

Australian employment Preview: Upbeat numbers could temper rate cut expectations

Australia will release this Thursday its  December employment data. The economy is expected to have added 15.0K new jobs in the month, following a 39.9K increase in November. 

Read more

Gold Price Analysis: Intraday uptick falters near 50-hour SMA, remains vulnerable

Gold lacked any firm directional bias and seesawed between tepid gains/minor losses through the mid-European session on Wednesday.

Gold News

USD/JPY rises above 110.00, potential head-and-shoulders on 1H

Risk reset in stocks is boding well for USD/JPY.  The pair may be forming a head-and-shoulders pattern on the hourly chart. The bulls are not out of the woods yet and a break above 110.12 is needed to invalidate lower highs setup on the hourly chart.

USD/JPY News

Forex Majors

Cryptocurrencies

Signatures