Category: Featured

Dear Trader, Please find our updated Trading schedule as Europe will enter Daylight Savings Time on Sunday, 27th October, 2019.

The British pound was left mostly unchanged against the buck Wednesday, with the GBP/USD currently trading a few points south of 1.29 as a lack of clarity and rising odds of a general election continues to haunt markets. Tuesday witnessed a 0.68% decline after MPs rejected UK PM’s Boris Johnson’s plan.

Tuesday had the Australian dollar a shade lower vs. its US counterpart, erasing 11 points, or 0.17%. Although snapping a four-day winning streak, hopes of a trade resolution between the US and China appears to be supporting trade-sensitive antipodeans.

Sterling attempted to overthrow the key figure 1.30 Monday, though failed to muster enough oomph to sustain gains as further delays were put into the Brexit process.

Sterling savoured another stellar week, notching gains in excess of 300 points and closing not too far off session highs at 1.2989. Technically, focus has shifted to supply at 1.3472-1.3204 and long-term trend line resistance (etched from the high 1.5930), following last week’s dominant push through the 2019 yearly opening level at 1.2739.