June 5th, 2018: Pound Struggles on Brexit Uncertainty
June 5, 2018 8:12 amVideo
Latest News
- Trading Signals for EUR/USD for May 3-5, 2024: sell below 1.0803 (overbought – 5/8 Murray) May 3, 2024
- Trading Signals for GOLD for May 3-5, 2024: sell below $2,320 or below $2,300 (21 SMA – 200 EMA) May 3, 2024
- Technical Analysis – GBPUSD advances above descending trendline May 3, 2024
- USD experiences day X May 3, 2024
- Bitcoin licks wounds as Fed comes on the rescue – Crypto News May 3, 2024
- GBP/USD: trading plan for the US session on May 3rd (analysis of morning deals). The pound is preparing to get out of the May 3, 2024
- EUR and GBP may drop May 3, 2024
- EUR/USD: trading plan for the US session on May 3rd (analysis of morning deals). US data will be the key moment of the week May 3, 2024
- USD/JPY: Simple trading tips for novice traders for May 3rd (US session) May 3, 2024
- GBP/USD: Simple trading tips for novice traders for May 3rd (US session) May 3, 2024
- Video market update for May 03, 2024 May 3, 2024
- EUR/USD: Simple trading tips for novice traders on May 3rd (US session) May 3, 2024
- Could the BoE adopt a more dovish stance on Thursday? – Preview May 3, 2024
- EUR/USD. May 3rd. Bulls don’t give up without a fight May 3, 2024
- GBP/USD. May 3rd. Bears are counting on a strong US labor market May 3, 2024
- Market Comment – Stocks enjoy Fed-induced bounce as dollar slips ahead of NFP May 3, 2024
- Weekly Forex Outlook: 03/05/2024 – BoE and RBA decisions headline a calm week May 3, 2024
- Week Ahead – BoE and RBA decisions headline a calm week May 3, 2024
- USD/JPY: trading tips for beginners for European session on May 3 May 3, 2024
- GBP/USD: trading tips for beginners for European session on May 3 May 3, 2024
Morning Report: 07.00 London
The British pound is recovering after under-performing yesterday as Theresa May delays her Brexit white paper. The GBP/USD continues to sink back towards the May lows, while the EUR/GBP pumped up to the EUR/GBP level yesterday. This weakness comes despite strong UK construction data yesterday.
Dollar pairs are generally on the back foot, with the EUR/USD on the back foot after gains yesterday.
The Australian dollar is one of the worst performing currencies so far today though after the RBA opted to keep rates on hold. This comes after sizeable gains yesterday.
The yen pairs are following the same trend, with the AUD/JPY a leading loser after hefty gains yesterday that brought the pair close to the May highs.
Coming up today
At 09.30, we have UK services PMI.
MPC member Cunliffe speaks at 11.00.
Canadian Labor productivity follows at 13.30.
US ISM non-manufacturing PMI is at 15.00.
Trade Idea
Gold continues to struggle as the US dollar holds at the highs. $1290 is acting as support.
There could be more downside from here and a good way to play this is a ONE TOUCH trade predicting that gold will touch $1270 within the next 14 days for a potential return of 117%.
Related Posts: