GBP: the hangover

GBP: the hangover

2020-09-29 • Updated

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.  

1.png

                                                                                                  LOG IN

Similar

Latest news

USD: Powell Speaks on Cutting Interest Rates
USD: Powell Speaks on Cutting Interest Rates

Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...

WTT: Currency Pairs To Trade In April
WTT: Currency Pairs To Trade In April

Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera