USD vs EUR, AUD, CAD, GBP: strategic softening
The USD has become soft. What's the tactical outlook against its main counterparts?
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.
Gaspar Markosyan
Similar
EUR/USD at 52 week high
Asia-Pacific stocks lacked firm direction as momentum faded from the record-setting performance on Wall St, where the S&P 500 and Nasdaq printed fresh all-time highs
USD bulls try to resist
Fed's Powell said a slowing recovery and a surging pandemic meant the US was entering a "challenging" few months, with the potential deployment of a vaccine still facing hurdles.
Popular
EUR/AUD looks down
EUR/AUD rose to 1…
USD vs EUR, AUD, CAD, GBP: strategic softening
The USD has become soft. What's the tactical outlook against its main counterparts?
Gold: bullish forecasts
XAU/USD is eyeing $1 850. Will it be able to reach it?
Choose your payment system
