Nov 12th 2018: Pound Hit By Brexit Nerves
November 12, 2018 11:11 amVideo
Latest News
- Analysis of GBP/USD on April 26th. The pound trades on Friday without changes April 26, 2024
- USD/JPY: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- EUR/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: trading plan for the US session on April 26th (analysis of morning deals). The pound attempted, but it didn’t go April 26, 2024
- EUR/USD: trading plan for the US session on April 26th (analysis of morning deals). The euro continues to rise April 26, 2024
- Trading Signals for GOLD (XAU/USD) for April 26-29, 2024: buy above $2,324 and sell below $2,352 (21 SMA – 6/8 Murray) April 26, 2024
- Technical Analysis – AUDUSD set to complete best week of the year April 26, 2024
- Will Apple finally drop its AI hint? – Stock Markets April 26, 2024
- Bitcoin slips as markets pare back Fed rate cuts – Crypto News April 26, 2024
- EUR/USD. April 26th. Bulls continue to advance after the GDP report April 26, 2024
- Can Chinese PMIs solidify the economy’s recovery prospects? – Preview April 26, 2024
- Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- XM’s Lombok Collaboration: Brightening Futures April 26, 2024
- Week Ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- Market Comment – Yen keeps sinking after Bank of Japan decision April 26, 2024
- Fed faces dilemma amid sticky inflation and slowing economy – Preview April 26, 2024
- USD/JPY: trading tips for beginners for European session on April 26 April 26, 2024
- GBP/USD: trading tips for beginners for European session on April 26 April 26, 2024
- EUR/USD: trading tips for beginners for European session on April 26 April 26, 2024
Morning Report: 07.00 London
This morning, the ebbs and flows of Brexit confidence continue to weigh on the pound following the resignation of Jo Johnson from the cabinet over concerns about the government’s plans. Sterling has gapped lower across the board. The GBP/JPY slumped heavily on Friday with further selling this morning bringing the pair down to test the 147.00 level. The GBP/USD selling is more severe, with the pair well on its way to erasing the November 1st rally. Even the beleaguered euro is making gains against the pound, with the EUR/ GBP rally for the second day in a row.
The dollar index is resurgent following US mid-terms, with losses across the board for dollar pairs. The EUR/USD is testing the lows at 1.1300, marking four days of selling. The AUD/USD is also struggling for the third straight day.
The USD/CHF continues to head back to the highs, after the parity line held last week.
The USD/CAD is one exception, gapping lower on Canadian dollar strength on reports that Saudi Arabia will cut production.
The USD/JPY has continued to make gains and is holding above the 114.00 level. Other dollar pairs are mixed, with the GBP/JPY gapping lower, along with the EUR/JPY, while the AUD/JPY gapping higher.
Coming up today
It is a light day on the economic calendar, with public holidays for the US and Canadian dollar.
Trade Idea
The GBP/JPY is starting on its latest down swing and there could be further down side from here.
A good way to play this is a LOWER trade predicting that the GBP/JPY will close below 146.00 in 14 days for a potential return of 154%
Related Posts: