Sterling reclaimed a large portion of Friday’s NFP-induced gains Monday, weakened on the back of comments from senior Labour figures, who chucked cold water over the prospect of an imminent cross-party development.
Category: Featured
Monday 6th May: Weekly technical outlook and review.
Violating a two-week bearish phase within the parapets of a long-standing demand zone at 1.1119-1.1295, the EUR/USD recovered in reasonably strong fashion last week.
Friday 3rd May: Greenback eyes 98.00 ahead of today’s NFP.
The US dollar index also regained weekly resistance at 97.72, potentially offering support going forward.
Thursday 2nd May: Pound eyes 1.30 ahead of ‘Super Thursday’
Sterling maintained recent momentum Wednesday, reinforced by better-than-expected Markit manufacturing PMI as well as upbeat rhetoric regarding the state of cross-party Brexit negotiations.
Early May Bank Holiday 2019
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