Markets still making their minds up
Friday 13 November 2020
A busy start to my day with some 1-2-1 mentoring so let's crack on witn the summary.
GBPUSD has retreated further tO test 1.3100 but currently underpinned again by EURGBP failing above 0.9000. EURGBP has duly failed above the stronger 0.9000 resistance but still underpinned into 0.8950.
I stay poised to sell GBP rallies as my preferred side and buy back in the dips as ever.Patience continues to be a virtue and rally-selling in GBPUSD is still bringing some reward but entry level key as always. Definitely expecting dip demand still as I've said for a while now amid the current USD supply.Brexit remains in the room and the negative impact of COVID on the UK economy still in the mix.
USDJPY has held 104.80 on the latest retreat but failing at 105.20 as range remains tight amid variable rsk/USD tones. EURUSD still finding soild demand in the dips but equally not rallying too far above 1.1830 either. USDCHF failed around 0.9160 as EURUSD found a base and with EURCHF steady albeit capped with the SNB still ever watchful though.
AUDUSD has failed around 0.7280 this time before finding support at 0.7225 while USDCAD held 1.3060 but equally failed above 1.3160 amid the variable risk/USD/oil tones.
Markets are ever-fickle so don't forget to contact me if there's areas that you might need some further help with.
Let's continue to be careful out there in all things. Staying safe must be our main priority still. Have a great weekend.
Interbank rates: 09.30 GMT