Technical Analysis

GBPUSD spikes higher on comments from EU on Brexit free trade deal

GBPUSD runs up above 100 day MA and 50% and backs off

The GBPUSD spiked higher on a headline that the “EU would offer the UK a super-charged free trade deal”.

The price of the GBPUSD spiked above the 100 day MA and the 50% retracement on buying but the price has since tumbled back down and looks to test the 200 hour MA below….(green line on the chart above)

Headline news and end of Friday trading makes for volatile price action. 

ForexLive

Articles You May Like

Canada: Business sentiment still positive, despite trade uncertainties – RBC
Pound Awaits Brexit Deal News, Euro Eyes Italian PM Conte Speech
Oil Price Forecast: Higher Highs & Lows Spur Shift in Retail Interest
USD/CNH pops to one-week high of 6.9375
The Core of Forex Trading Re-Engineered

Leave a Reply

Your email address will not be published. Required fields are marked *