Cable extends weakness after bull-trap, risk aversion adds to bearish pressure
Cable extends weakness into third straight day and cracks key supports at 1.3015/00 (55DMA / psychological) in early Monday.
Bears threaten of extension towards 1.2860 zone higher base (reinforced by 100DMA and Fibo 61.8% of 1.2675/1.3177)…
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Deeper pullback is likely to precede fresh attack at key Fibo barrier
Cable edged higher on Friday on fresh optimism over Brexit, pausing after Thursday’s 0.5% drop, but near-term risk remains for deeper correction before bulls regain control.
Wednesday’s massive advance stalled at key Fibo barrier at 1.3173…
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Eurozone business activity contracts but manufacturing sector on the rise
The EU’s economic activity declined in October, according to data released on Friday. Renewed Coronavirus restrictions – introduced in an attempt to control the strong recent rise in cases across Europe – forced many businesses to limit…
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Upbeat Manufacturing data inflate Euro but key barriers still intact
The Euro jumped on Friday after double rejection above daily cloud and Thursday’s close in red, lifted by impressive German Oct Manufacturing PMI (58.0 vs 55.1 f/c, the highest since May 2018) and solid European figures (Oct 54.4 vs 53.2…
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What were the key points from the final US presidential debate?
The final US presidential debate took place in Tennessee last night, and proved to be a calmer affair than the ill-tempered first confrontation between the two candidates. President Trump, in particular, dialed down the volume that has…
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US weekly jobless claims fall but figures remain high
US weekly jobless claims fell below expectations last week but remain elevated as the Coronavirus pandemic persists, with the recovery of the labor market also being weighed by fading hopes of a pre-election fiscal stimulus deal. The…
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Bulls take a breather after strong rally and expected to remain in play while above 1.30 support…
Cable eases on Thursday as traders collect profits from Wednesday’s 1.56% advance (the biggest one-day rally since 27 Mar) when pound rose to the highest in over seven weeks against the dollar.
Sterling surged on fresh optimism over news…
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EU and Britain agree to resume Brexit talks
In an effort to revive stalled trade talks, the UK and the European Union will resume negotiations today. There are just ten weeks remaining until the end of the Brexit transition period.
Both sides want to bridge existing gaps and…
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