GBP/USD in search of a firm direction; stuck in a familiar trade
1. Technical Overview
OVERVIEW
Today last price 1.2323
Today Daily Change -0.0011
Today Daily Change % -0.09
Today daily open 1.2334
TRENDS
Daily SMA20 1.2385
Daily SMA50 1.2252
Daily SMA100 1.2429
Daily SMA200 1.2723
2. Fundamental Overview
A combination of diverging factors failed to provide any meaningful impetus to the major and led to subdued trading at the start of a new week. The British Pound remained on the defensive in the wake of Friday's report that the European parliament president has rejected the UK PM Boris Johnson's new Brexit proposal.
The downside, however, remained cushioned, at least for the time being, amid a mildly weaker tone surrounding the US Dollar, weighed down by firming market expectations that the Fed will cut interest rates again at its upcoming monetary policy meeting on October 29-30 in order to support the economy.
OVERVIEW
Today last price 1.2323
Today Daily Change -0.0011
Today Daily Change % -0.09
Today daily open 1.2334
TRENDS
Daily SMA20 1.2385
Daily SMA50 1.2252
Daily SMA100 1.2429
Daily SMA200 1.2723
2. Fundamental Overview
A combination of diverging factors failed to provide any meaningful impetus to the major and led to subdued trading at the start of a new week. The British Pound remained on the defensive in the wake of Friday's report that the European parliament president has rejected the UK PM Boris Johnson's new Brexit proposal.
The downside, however, remained cushioned, at least for the time being, amid a mildly weaker tone surrounding the US Dollar, weighed down by firming market expectations that the Fed will cut interest rates again at its upcoming monetary policy meeting on October 29-30 in order to support the economy.
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