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Pound Slows on Brexit Divisions29 January 2019 by Dave Evans

Morning Report: 07.00 London

The British pound is maintaining its moderate sell-off as Tory division and the realism of Theresa May’s revised plans cause the week’s previous Brexit confidence to wane. The GBP/USD is down only slightly, but this comes amid a morning of general strength for dollar pairs. Similarly, the GBP/JPY is unchanged while other yen pairs make small gains. The EUR/GBP is rallying for the third straight day.

The dollar index is on the back foot, helping the dollar pairs to make moderate gains. The AUD/USD is slightly higher despite China growth concerns. The EUR/USD is making gains for the third straight day, having pushed firmly off support around 1.1300.

The USD/CAD is on the back foot on general dollar weakness and testing support around 1.3250. The USD/CHF is unchanged but holding recent losses.

The USD/JPY is unchanged so far as the yen and dollar cancel each other out. The EUR/JPY is showing positive intent and is set to test the 125.00 level from below. The GBP/JPY is lagging though.

Coming up today

Today, we have Spanish Unemployment Rate at 08.00

CB Consumer Confidence is at 15.00

Trade Idea

Gold traders appear to be reading between the lines on Global issues and opting for some security with fresh 2019 highs this morning.

Pound Slows on Brexit Divisions

It could pay to follow the trend with the precious metal and a good way to play this is a HIGHER trade predicting that gold will close above $1325 in 30 days time for a potential return of 224%.

Pound Slows on Brexit Divisions