OctaFX | OctaFX Forex Broker
Open trading account

GBP/USD jittery awaiting joint statement from May and Juncker

  • GBP/USD to become volatilie?
  • GBP/USD awaits joint statement.

The GBP has been broadly higher amid hopes that the UK/EU can reach an 11th hour deal on key stumbling blocks – the “divorce” bill, EU citizens’ rights and how the border between Eire and Northern Ireland will function. 

All about cable

However, the pound had taken a dip below the 1.35 handle (1.3474) as NY trades through the morning on news that we are expecting a joint statement from May and Juncker having met today in Brussels and lunching together, making for some volatility. Currently, GBP/USD is trading at 1.3496, up 0.19% on the day, having posted a daily high at 1.3541 and low at 1.3419.

GBP bid on data as well

We should now here what progress will be made that could be paving the way for a broad agreement on separation at the Dec 14th summit. also, to note, that positive data had added to the lift in the GBP on Monday, with the Markit/CIPS Construction PMI rising to 53.1 last month, as noted by analysts at Scotiabank.

GBP/USD levels

The analysts at Scotiabank explained that GBP/USD is poised to retest last week’s peaks around 1.3550, with the early bid for Cable effectively delivering a solid rebound from the mid 1.34 level on the intraday chart. "The GBP’s broader progress since the early Nov test of key trend support on the longer run charts suggests a push to the low/mid 1.36 area is possible near term and a rally towards 1.40 cannot be excluded in the longer run – provided that the pound can establish a foothold above 1.3550 in the next day or so."

EUR/USD probing fresh lows near 1.1830

The selling pressure around the shared currency stays unabated so far on Monday and is now forcing EUR/USD to recede to the 1.1830 area, or fresh dail
Read more Previous

USD/CAD recovers toward 1.27 as oil remains under pressure

The USD/CAD pair, which recorded one of its biggest daily drops of the year on Friday, renewed its 5-week low at 1.2655 before American traders hit th
Read more Next
Start livechat