TenkoFX - Analytics


    419.75 7.25/10
    68% of positive reviews

    GBP/USD: based on 1.42 handle after tragedy and turbulence overnight

    Sterling crosses and Brexit were yet again taking over the spotlight while the BoJ and Fed decisions faded into the background.It has been a tragic time for the UK this week, from Eurocup 2016 football hooliganism to a murder scene over the EU referendum when Labour MP Jo Cox died after being shot and stabbed multiple times following a constituency meeting.Markets sold the pound  from above the 1.42 handle before demand drove the price back up on the news that EU campaigning would be canceled one week before the referendum date on the Jo Cox tragedy. The lows of 1.4012 were very short-lived and sterling rallied through previous highs until 1.4256, faded back to 1.4200 and has traded sideways since. GBP/JPY rallied from 145.50 to 148.80.GBP/USD: volatility risk premium to record levels - NomuraGBP/USD levelsFurther GBP/USD rallies may find a tough time getting through 1.4330, 13th June highs and 16th May lows ahead of 1.4350 and the 100 4hr sma at 1.4403. To the downside, a break below 1.4200 and 1.4115, initial support lies 1.4083/05 area where the January and April lows were made and these guard the 1.3837 February low, as noted by analysts at Commerzbank.

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree