Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
GBP: the hangover
Information is not investment advice
Yesterday, the GBP was boosted by the positive flow of the Brexit talks. Today, it will have to – at least – stay at the new positions or cede them back.
Against the USD, it bounced upwards from the support of 1.27 and crossed the 50-MA to trade under 1.29 now. The 100-MA caps the upside at 1.2880 for it – if we don’t see it cross that one as well, the GBP will like go back to where it came from – 1.27.
Against the EUR, the price went below the strategic support of 0.91 to touch 0.9060. However, it already started bouncing upwards from this bottom which is reinforced by the 50-MA. So pay close attention to the performance of the GBP now – if there is no further progress in the positive direction for the Brexit, the GBP will not only get back to previous trend but probably lose even more ground.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?