Forex Daily News

6th February 2019

5th February 2019

GBP/USD Technical Analysis: Cable is about the end the day in the red near the 1.2950 level

GBP/USD daily chart

Cable is falling below the 200-day simple moving average (SMA) as bears broke below the 1.3000 figure.

GBP/USD 4-hour chart

GBP/USD is trading below the 50 and 100 SMA suggesting bearish momentum in the medium-term.

GBP/USD 30-minute chart

As discussed, the 1.2930 acted as support. This is now the level to beat for bears for further downside to 1.2900 the figure.
To the…

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FTSE 100 index ends up 143 points or 2% to 7,177.37

The FTSE 100 index ended at its highest level in seventeen weeks, up 143 points or 2% to 7,177.37.
Price is holding above the 100-D SMA and now the 21-W SMA.

This was the highest closing level since 9 October with an additional slump in sterling following data showed that activity in the services sector almost flatlined last month. The CIPS services…

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RBA: On hold during 2019, with risk now shifted to a rate cut – Wells Fargo

According to analysts from Wells Fargo, the Reserve Bank of Australia (RBA) appears unlikely to follow other central banks rate hikes and it should maintain its broadly neutral policy stance and keep rates on hold for the foreseeable future.

Key Quotes: 

“We believe the RBA will be on hold, or potentially cut rates, as the RBA looks to support growth and address…

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USD/MXN Technical Analysis: Main trend still bearish but remains in a consolidation range at 19.00/19.20.

The pair continues to consolidate in a wide range between 19.20 and 19.00. The main trends still point to the downside. 
A break under 19.00 would clear the way to more losses. The critical support is the 18.85/87 area, January low. Under that level, the pair will likely resume the downtrend with a target at 18.70. 
If USD/MXN holds above 19.00 over…

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GBP/USD sinks to critical support, technicals warn of further downside to 1.2802

 

GBP/USD has started to stabilise following a sell-off from the 1.30 handle as Brexit worrying Brexit headlines take their grip again.  
GBP/USD dropped from a high of 1.3053 to a low of 1.2924 and is currently stablised at 1.2951. 

GBP/USD is in the limelight once again this week with Brexit headlines streaming through ahead of the highly anticipated BoE. The pound got off to a poor start…

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