GBPUSD posts a corrective pullback from the yearly low of around 1.3425 ahead of the UK data dump, comprising preliminary readings of the UK Q3 GDP. Even so, the cable pair needs a daily closing beyond September’s bottom of 1.3411, as well as the 50% Fibonacci retracement level near 1.3460, to convince short-term buyers. Even so, lows marked in July and 200-SMA,...
EURUSD bears take a breather around weekly low, after a two-day downtrend, during early Wednesday. Although risk-on mood helps the EURUSD to consolidate weekly losses, the likely firmer US Durable Goods Orders print keeps the bears hopeful. Additionally, the quote’s sustained trading inside a broad falling wedge since early June and a recent drop below 10-DMA...
GBPUSD buyers await for Brexit headlines as the Cable gyrates inside a bullish flag chart pattern on the four-hour play. The European Union (EU) diplomats aren’t likely to get a warm welcome in London on their arrival for Brexit talks. The reason could be linked to the comments from UK’s Brexit policymaker David Frost, conveying his discomfort with the bloc...
Gold remains depressed around the lowest in two weeks as market sentiment sours ahead of the key European Central Bank (ECB) monetary policy meeting on Thursday. Having stepped back from a two-month-old horizontal resistance last Friday, gold prices dropped below 200-DMA and 50-DMA during the current week. The downside momentum recently gains support from bearish...
