The Sterling was weak and unstable during Monday’s trading session as investors mulled over last week’s shocking UK election outcome which dished out a nightmare “hung parliament” surprise. With Theresa May’s gamble to strengthen her hand ahead of the Brexit negotiations brutally back firing and sparking chaos in Westminster, the British Pound remains vulnerable to further downside. The Dollar remains on standby ahead of the FOMC meeting on Wednesday while Gold is struggling to keep above $1260.
– The #EURUSD bulls need to break above $1.1300
– #Sterling is in the process of a technical bounce
– The bullish daily outlook for #Gold is invalidated below $1260
For more Market Analysis read the latest @http://fxtm.co/marketupdate-yt
The Sterling was weak and unstable during Monday’s trading session as investors mulled over last week’s shocking UK election outcome which dished out a nightmare “hung parliament” surprise. With Theresa May’s gamble to strengthen her hand ahead of the Brexit negotiations brutally back firing and sparking chaos in Westminster, the British Pound remains vulnerable to further downside. The Dollar remains on standby ahead of the FOMC meeting on Wednesday while Gold is struggling to keep above $1260.
– The #EURUSD bulls need to break above $1.1300
– #Sterling is in the process of a technical bounce
– The bullish daily outlook for #Gold is invalidated below $1260
For more Market Analysis read the latest @http://fxtm.co/marketupdate-yt
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