May 9th 2019: Pound Struggles on Brexit Impasse
May 9, 2019 8:11 amVideo
Latest News
- Outlook for EUR/USD on April 15. The euro is already falling for no apparent reason! April 15, 2024
- Trading plan for GBP/USD on April 15. Simple tips for beginners April 15, 2024
- Trading plan for EUR/USD on April 15. Simple tips for beginners April 15, 2024
- Euro will return to parity April 12, 2024
- Trading Signals for ETH/USD (Ethereum) for April 12-15, 2024: buy above $3,435 (3/8 Murray – 200 EMA) April 12, 2024
- EUR/USD. Analysis for April 12th. The euro falls down under the pressure of the news background April 12, 2024
- GBP/USD. Analysis for April 12th. A significant event: the pound fell below the 25-figure April 12, 2024
- Trading Signals for EUR/USD for April 12-15, 2024: buy above 1.0620 (-2/8 Murray – rebound) April 12, 2024
- GBP/USD: trading plan for the US session on April 12th (analysis of morning deals). The pound followed the euro April 12, 2024
- EUR/USD: trading plan for the US session on April 12th (analysis of morning deals). The euro continues to fall April 12, 2024
- EUR/USD and GBP/USD: Technical analysis on April 12 April 12, 2024
- EUR/USD: Dovish signals from the ECB and rising PPI April 12, 2024
- EUR/USD. April 12th. ECB meeting: confidence in rate cut increased in June April 12, 2024
- GBP/USD. April 12th. British economy continues to stagnate April 12, 2024
- Analysis and trading tips for EUR/USD on April 12 (US session) April 12, 2024
- Analysis and trading tips for USD/JPY on April 12 (US session) April 12, 2024
- Analysis and trading tips for GBP/USD on April 12 (US session) April 12, 2024
- Weekly Forex Outlook: 12/04/2024 – More inflation data on the way as rate cut bets in disarray April 12, 2024
- Technical Analysis – GBPUSD ticks down to new 5-month low April 12, 2024
- Bitcoin holds above $70,000 as halving event looms – Crypto News April 12, 2024
Morning Report: 07.00 London
The British pound continues to struggle this morning, with the GBP/JPY sitting just above support at 143.00 after slumping below 144.00 yesterday. This comes as markets grow increasingly restless ahead of European elections. The GBP/USD is making small gains this morning, but this comes after three days of heaving selling. The 1.3000 level is holding for now. The pound is showing a little fight against the euro after the EUR/GBP pushed through the 0.8600 level yesterday.
Yen pairs generally are on the back foot as risk appetite takes hold in the context of China trade deal worries. The USD/JPY is slipping below 110.00 this morning. The EUR/JPY is slipping lower for its third straight day, while the AUD/JPY is slumping further below 77.00.
The Aussie is also struggling against the US dollar, with the AUD/USD set to test the May lows around 0.6975. The EUR/USD is unchanged but range bound.
Meanwhile the USD/CAD is setting for another attempt at the highs, trading just below support at 1.3500 this morning. The USD/CHF is slipping back though as the dollar gives way to other safe havens.
Coming up today
Today we have Canadian Trade balance at 12.30, released alongside PPI and Fed Chair Powell speaking.
Trade Idea
The AUD/JPY appears vulnerable and the current slump could extend further.
A good way to play this is a LOWER trade predicting that the AUD/JPY will close below 76.00 in 15 days could return 183%.
Related Posts: