 Tools for TradersTop Movers | Heat Map | Pivot Point | Pivot Meters | Action Bias | Volatility Charts Action InsightMid-Day Report: Sterling Soars as UK Reported to be Close to Brexit Transition Deal Sterling jumps broadly after Reuters reported that UK Junior Brexit Minister Robin Walker said it's very close to transition deal with the EU. But so far, no detail is reported yet. Meanwhile, Australian Dollar remains one of the strongest one today, together with the Japanese yen. Canadian Dollar is trading the the weakest one so far as last week's rebound lost steam. Euro is followed as the second one while Dollar is the third weakest. Officials from both sides continue to exchange words regarding trade relationship. Technical OutlookGBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.3792; (P) 1.3841; (R1) 1.3894; More.... GBP/USD rebounds strongly today. But it's still staying below 1.3929 resistance. Intraday bias remains neutral first. On the upside, firm break of 1.3929 will be the first sign of reversal. That is, the choppy pull back from 1.4345 could have completed at 1.3711 already. In this case, intraday bias will be turned back to the upside for 1.4144 resistance for confirming this bullish view. On the downside, break of 1.3711 will resume the decline from 1.4345 through 1.3651 resistance turned support. At this point, we'll look for strong support from 38.2% retracement of 1.1946 to 1.4345 at 1.3429 to contain downside and bring rebound. Suggested ReadingsDollar Little Changed, Awaits Fresh Drivers, Stoxx 600 Records Near 2-Week High Gold Bearish Structure Remains In Focus, Slips Below 23.6% Fibonacci Retracement Level Markets Buoyed By Jobs Data And US Tariff Update Dollar Lower On Risk Appetite Recovery Elliott Wave Analysis: EURAUD, Bund And EURUSD GBP/USD Cup With Handle Bullish Pattern For Uptrend Continuation Dollar Falls With Inflation Figures The Next Catalyst, Equities On The Rise Economic Data
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