Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/USD trades in narrow range, market eyes Brexit negotiations

  • Cable slides today after recovering till 1.35127 at the time of writing. The pair weakness was mainly due to political scandal and Brexit talks.  The pair has formed temporary bottom around 1.30280 and further weakness below that level.
     
  • The pair is trading sideways and sixth round of Brexit negotiations is happening in Brussels from Nov 9th and market will be looking for progress for further movement in pound.
     
  • US-UK 10 year bond yield on rise after dovish comment by BOE. UK 10 year gilts yields declined almost 200 basis point after the BOE monetary policy meeting.
     
  • The pair has formed bearish flag pattern in the 4 hour chart and any minor bullishness can be seen only above 1.3210. The near term resistance is around 1.3180. Any short term bullish continuation only above 1.3380.
     
  • On the lower side, near term major support is around 1.3100 and any violation below will drag the pair down till 1.30380/1.30270.

It is good to sell on rallies around 1.3165-70 with SL around 1.3210 for the TP of 1.30280.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

November 24 15:30 UTC Released

USECRI Weekly Index*

Actual

145.6 %

Forecast

Previous

145.6 %

November 24 14:45 UTC Released

US1st Half-Mth Infl YY*

Actual

54.6 %

Forecast

Previous

54.6 %

November 27 09:00 UTC 31863186m

ITExport Prices*

Actual

Forecast

Previous

111 %

November 27 09:00 UTC 31863186m

ITImport Prices*

Actual

Forecast

Previous

116.1 %

November 27 14:00 UTC 34863486m

MXTrade Balance, $*

Actual

Forecast

Previous

-1.886 Bln USD

November 27 14:00 UTC 34863486m

MXTrade Balance SA*

Actual

Forecast

Previous

-1.559 Bln USD

November 27 15:30 UTC 35763576m

USDallas Fed mfg bus index

Actual

Forecast

Previous

27.6

November 27 21:00 UTC 39063906m

KRBOK Manufacturing BSI*

Actual

Forecast

Previous

87 Bln BRL

November 28 00:00 UTC 40864086m

BRCentral Govt Balance

Actual

Forecast

Previous

-22.725 Bln BRL

November 28 07:00 UTC 45064506m

DEGDP Growth QQ* Advance

Actual

Forecast

Previous

10.7 %

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.