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GBP strengthens as Brexit news dominates market action


EURUSD Pair
EURUSD grids down slightly with the effect of higher broad USD as the higher UST yield still supports USD despite of DJI -1.01% overnight. The Germany and Eurozone, US PMI data as well as FOMC minutes and stock/bond market move will dominate the intraday action, with support at 1.2300 and resistance at 1.2410 still prefer to keep buying on dips with tight stop strategy.

USDJPY Pair
USDJPY goes higher as the broad USD correction continues as well as on higher UST yield despite of US stock lowering down overnight. The US PMI and FOMC minutes as well as stock/bond market move will have some intraday impact. Talk of lifers demand for US treasury also boost some short term speculative move but exporters starts hedging. As March is the seasonal month for fiscal year end hedging. Which depressing further rallies on the pair with support at 107.15 and 106.50 with resistance at 108 and 108.30 still prefer keeping sell on rallies with tight stop strategy.

GBPUSD Pair
GBPUSD choppy in range move with the Brexit news still dominates the intraday action. The UK job data also have some impact but overall expects the GBP will still in sideway consolidation before the weekend in Theresa May meeting with EU on clarifying the next negotiation path. With support at 1.3920 and resistance at 1.4000 still to prefer in range trading with tight stop strategy.

USDCHF Pair
USDCHF grids higher on the effect of broad USD strength ahead of FOMC minutes and higher UST yield. The US PMI, FOMC minutes and stock/bond market move will dominate the intraday action with support at 0.9335 with resistance at 0.9385 and 0.9410 to still prefer in range trading with tight stop strategy.

EURJPY Pair
EURJPY around similar level from yesterday as the market still remain to focus the direct USD dealing and cross rather than the passive move recently. The US stock lowers down but Nikkei slightly goes up that driven more steady risk sentiment. The US PMI data, FOMC minutes and stock/bond market move will dominate the intraday action with support at 131.50-60 and resistance at 132.55-60 to still prefer keep on selling rallies with tight stop strategy.

EURGBP Pair
EURGBP slightly lower on GBP strength with Brexit news driven the market. But overall the market remain to focus on the direct USD dealing ahead of FOMC minutes later. The UK job data and Eurozone PMI data will also have some impact for the cross with support at 0.8800-10 and resistance at 0.8880-90 to prefer still the buying on dips with tight stop strategy.

Gold Bars
GOLD gradually goes down in effect of broad USD strength and higher UST yield despite the DJI at -1.01% overnight. And the steady risk sentiment will have little impact for GOLD. China’s holiday depressing demand and the technical move will still persist ahead of FOMC minutes later. With support at 1325 and resistance at 1341-42 prefer to buy on dips with tight stop strategy.

Silver Bars
Silver around similar level from yesterday despite of slightly lower GOLD. And overall the broad USD strength and higher UST yield will still capping the topside ahead of FOMC minutes. Also the US PMI and housing data together with stock/bond market move might have small intraday impact with support at 16.4 and resistance at 17.0 still prefer buying on dips with tight stop strategy.


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