EUR/USD and GBP/USD lose directional focus amid Brexit uncertainty
EUR/USD and GBP/USD lose much of their directional conviction, with year-end Brexit uncertainty driving volatile consolidation.
EUR/USD starting to fade once more
EUR/USD is starting to ease back once again after the partial recovery seen overnight. Set within a period of clear indecision, a break back below the $1.2152 mark could start to see further bearish short-term momentum.
However, with a wider uptrend in play, there is still a good chance we are looking at a retracement of the $1.2059-$1.2273 rally.
GBP/USD sees indecision dominate as Brexit deadline looms
GBP/USD has understandably seen a distinct lack of direction over the course of the past week, with the latest creation of higher lows and lower highs highlighting that indecision. With just over a week left until the Brexit deadline, we will soon find out whether a last-minute deal can be reached.
At this point, pretty much any deal would likely boost the pound. For now, the chart appears to be in wait-and-see mode, with a break below $1.3304 or above $1.3499 required to bring about a fresh directional breakout.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
Start trading forex today
Trade the largest and most volatile financial market in the world.
- Spreads start at just 0.6 points on EUR/USD
- Analyse market movements with our essential selection of charts
- Speculate from a range of platforms, including on mobile
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
