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Daily Report

Mar 20th, 2018: Pound Rallies on Brexit Hopes

Morning Report: 07.00 London

This morning, the British pound remains strong after apparent key Brexit breakthroughs yesterday. The EUR/GBP plunged at one point, eventually closing lower but above the extremes of the day.

The GBP/USD and GBP/JPY rose sharply yesterday, with additional small gains this morning. The euro itself took a back seat yesterday but is performing well this morning and matching the pound’s advances.

The dollar is slightly higher after significant selling yesterday following Powell’s testimony yesterday. The AUD/USD extended recent losses yesterday and is experiencing follow on selling this morning. This follows the release of RBA monetary policy meeting minutes. The NZD/USD is also negative this morning after a strong reversal yesterday.

The USD/JPY stabilised yesterday and is making gains this morning as the US dollar holds ground despite fears over a Facebook inspired tech sell-off.

Coming up today

At 09.30, we have UK CPI, PPI and RPI at 09.30.

German ZEW economic sentiment follows at 10.00.

G20 meetings run all day.

Trade Idea

The GBP/USD is performing well at the moment as Brexit optimism spikes. This comes as the US dollar takes its foot off the gas after Jay Powell’s testimony and risks to the great tech boom.

The pound could see another run to the highs and it’s worth a ONE TOUCH trade to play this scenario.

Mar 20th, 2018: Pound Rallies on Brexit Hopes

A good way to play this is a ONE TOUCH trade predicting that the GBP/USD will touch 1.4300 at some point in the next 21 days for a potential return of 130%.

Mar 20th, 2018: Pound Rallies on Brexit Hopes