Tools for Traders Top Movers | Heat Map | Pivot Point | Pivot Meters | Action Bias | Volatility Charts Action Insight Mid-Day Report: Sterling Shines as UK and EU Agreed on Brexit Transition Deal Sterling soars today on news that EU and UK has finally agreed on the Brexit transition deal. The pound is now set to take on 1.4144 resistance against dollar and 0.8686 against Euro. While notable weakness is seen in Euro against Sterling, it's actually performing quite well elsewhere. The common currency is clearly also blessed by the Brexit news. On the other hand, Yen and Swiss Franc suffer most on solid market sentiments. Dollar is also under pressure and even weakens against commodity currencies. Though, strength of CAD and AUD against Dollar is so far limited and markets quickly remember that the worry of trade war remains. Technical Outlook GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.3893; (P) 1.3936; (R1) 1.3986; More.... GBP/USD rises to as high as 1.4087 so far today as boosted by Brexit news. Break of 1.3995 confirms resumption of rebound from 1.3711. Also, it affirms the case that correction from 1.4345 has completed. Intraday bias is back on the upside for 1.4144 resistance first. Break should confirm this bullish view and send GBP/USD through 1.4345 to resumer larger up trend. On the downside, break of 1.3888 minor support is needed to indicate completion of the rebound. Otherwise, further rise will now be in favor. Suggested Readings Euro, Pound Post Strong Rally; European Equities Open Lower The Week ahead: FOMC, Trump Tariffs and UK Inflation in Focus Expect The Fed To Dial Up On Rates Markets Lower On Trade War Concerns Forex Analysis: AUDJPY And GER 30 Gold Remains Bearish As Recent Bounce Runs Out Of Steam Japanese Politics Boost The Yen, G20 Gathering Kicks Off Busy Week G20 Meeting In Focus And A Look At The Week Ahead EURUSD Trades In Narrow Range, Maintains Short-Term Bearish Bias Equities Fare Decently In The US Session On Friday And USD Strengthened Economic Data
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