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GBP cross indirectly supporting the GBPUSD pair

EURUSD continues to pullback with the broad USD rebound in Asian session. Today’s holiday in US, Canada, HK and China expected for the market to rather have a quiet trading with no data and risk event out. The steady US stock and UST yield pulls back slightly to 2.88% which pointing for a more steady risk sentiment. Eurozone Current Account balance and construction output data might have small intraday impact with support at 1.2385 and resistance at 1.2475 and 1.2535 still to prefer to keep buying on dips with tight stop strategy.

USDJPY grids up on broad USD rebound but the US holiday will limit the move. A steady US stock and higher Nikkei will encourage for some YEN cross short coverings and will indirectly support the pair. But this round it still expects a correction rather than a trend change. With support at 106 and resistance at 106.80-85 still prefer keeping sell on rallies with tight stop strategy.

GBPUSD grid downs and testing a 1.40 handle in Asian session with the broad USD recovery trend. Some short coverings on GBP cross might indirectly support the pair on lower side. But overall the Brexit uncertainty and later BOE’s Governor Carney speech might have some intraday impact. With support at 1.3960 and resistance at 1.4080 still to prefer in range trading with tight stop strategy.

USDCHF goes higher on broad USD rebound and the EURCHF steady move with holding above 1.15 handle effect, steady US stock and 10 years UST yield around 2.88% still support the pair in short term. Today in US holiday without any risk event, expecting to be an orderly and slow market movement with support at 0.923 and resistance at 0.9330 still prefer the in range trading with tight stop strategy.

EURJPY in slightly rebound movement in Asian session but technical will see pointing for more downside with lower close (131.91) on Friday. The steady US stock and higher Nikkei will have small support for the cross. Today in US holiday, a slow movement is expected with support at 131.50-60 and resistance at 132.50-60 still prefer to keep selling on rallies with tight stop strategy.

EURGBP pulls back slightly last Friday and today stalling in tight range (0.8845-0.8857) with US, China, HK and Canada holiday, the lack of US data and risk event will expect more orderly move in short term. Later Eurozone Curent account balance, consturction output and BOE’s Carney speech might have small intraday impact with support at 0.8840-50 and resistance at 0.8920-30 still prefer to keep on buying dips with tight stop strategy.

Gold Bars
GOLD slightly retraces down on broad USD recovery. And in today’s US holiday without risk event, to expect more orderly and slow movement with support at 1340 and reistance at 1355 and 1360 still prefer keeping the buying on dips with tight stop strategy.

Silver Bars
Silver lowers down in Asian session as the correction trend continues from last week’s Friday action. Today the US holiday and no risk event will limit the movement and expects a more slow and orderly move with support at 16.60-65 and resistance at 17.20-25 still to prefer keep on buying dips with tight stop strategy.

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    Research Risk Warning

    At Hantec Global Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.