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Pound Sterling strengthening today to its highest level since November against the US Dollar after reports that Brexit could be delayed beyond the 29th March deadline, pushing Pound above 1.28 level. However, later the reports were denied by Theresa May’s spokesperson. Pound stronger against all major currencies in today’s session. Big week for Brexit next week as the vote on May’s Brexit deal takes place on Tuesday.
Euro weakening against all of the major currencies today, weakening the most against the Pound towards the end of the session trading below 0.90 level.
GBPUSD – Daily
EURGBP – Daily
FX Majors Summary
US Crude trading lower today after trading above $53 per barrel level during today’s session, it was down by 0.63% on the day. Same story for Brent, down by around 0.36% at the end of the session.
Steady day for the metal commodities, both Gold and Silver trading 0.30% and 0.52% higher.
USOUSD – Daily
All of the major world Indices trading lower today. We saw FTSE100 trading at its highest level since 4th December during today’s session, however, it was down by around 0.36% towards the end of the session.
In the United States, the Dow Industrial Average and S&P500 were down by 0.79% and 0.49% respectively.
Global Indices Summary
Relatively good day for the major digital currencies today after experiencing heavy losses yesterday. XRP and Bitcoin making the most gains, up by 0.85% and 0.34%.
GBPNZD (Ichimoku Daily) – Revisiting a Pound Kiwi chart mentioned earlier this week as it further showcases the ability for Ichimoku Clouds to act as non-linear areas of support and resistance. Price action has hugged the outer edge, steadily heading lower as it meets upward resistance.
On Monday’s chart we discussed the possibility of the price retreating to the previously missed pivot area of 1.8684, and today the pair has completed reached this target. Technically, the Pound Kiwi still appears to be sitting in bearish territory confirmed by the longer-term lagging span in purple.
By Klāvs Valters
This article is written by a GO Markets Analyst and is based on their independent analysis. They remain fully responsible for the views expressed as well as any remaining error or omissions. Trading Forex and Derivatives carries a high level of risk.
Sources: Go Markets MT4, Google, Datawrapper, Tradingview