FX MARKET REPORT 19.11.2020

FX MARKET REPORT 19.11.2020

FX MARKET REPORT 19.11.2020

Daily Commentary
Daily Commentary
FX MARKET REPORT 19.11.2020
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FX MARKET REPORT 19.11.2020

GBP/USD fell sharply from above 1.3300 and was last seen trading around 1.3230, down -0.3% on the day. Initial support awaits at 1.2995 as Commerzbank expects the cable to fail in the 1.3310- 1.3422 band. Bloc members to push the European Commission for no-deal Brexit preparations, UK policymakers were hopeful earlier. Ascending triangle breakdown confirmed on the 4H chart. Bullish RSI points north keeping buyers hopeful. EUR/USD trades flat after Wednesday’s marginal losses. France says EU leaders could move ahead with a budget without Hungary and Poland. The Eurozone needs fiscal aid to combat the second-wave of the coronavirus. The dollar nursed losses on Thursday following five sessions of declines as investors’ longer-term optimism about COVID-19 vaccines ran in to worries about rising infections and risks to the fragile global economic recovery. Small gains against most majors lifted the greenback from Wednesday’s eight-session low against a basket of currencies, but it remains near the month’s trough of 92.129.

GBP/USD fell sharply from above 1.3300 and was last seen trading around 1.3230, down -0.3% on the day. Initial support awaits at 1.2995 as Commerzbank expects the cable to fail in the 1.3310- 1.3422 band. Bloc members to push the European Commission for no-deal Brexit preparations, UK policymakers were hopeful earlier. Ascending triangle breakdown confirmed…

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