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EUR/USD Technical Analysis: November 14, 2016

Due to a better-than-expected results presented by the Germany's Wholesale Price Index, the euro further strengthened. Meanwhile, the dollar had also stabilized after speculations about Trumps presidency will not be really bad and the policies his supporting with will help improve inflation.

The EUR preserved a bearish sentiment and currently trades at the 1.0900 level. Furthermore, the pair procured a little reversal amid Asian session hence enabling the sellers to break the price and descended towards 1.0850. Traders unsuccessfully pushed the level on Friday. The daily high reached the 1.0920 region while the daily low is identified at 1.0839. As shown in the 1-hour chart, the price settled in the 50-EMA and rebounded promptly after testing it. Moving averages (50, 100 and 200 EMA) are set downwards as indicated in the same trading chart. Resistance touched the 1.0900 region, support marked the 1.0850 level . Technical trading tools established bearish patterns. MACD grew less and indicated strength for the sellers. RSI oscillator consolidated around the negative zone.

AUD/USD Technical Analysis: November 14, 2016

Last Fridays trading session, a candle pattern was formed indicating a negative outlook for the pair AUD/USD. The market supports this trend reaching towards the 0.75 level as it goes much higher to 0.7750 support level. Should the trend breaks at 0.752 level, it will change course to a downward direction.

It is advised for Aussie traders to look out for Gold as indicator which has a big impact that is known to have an interdependence relationship with Australian dollar market.

USD/JPY Technical Analysis: November 15, 2016

The JPY was subject to selling pressure following a speech from the Bank of Japans Haruhiko Kuroda. The Japanese yen was unable to receive substantial support from domestic demand in spite of the positive output for the Japanese GDP for the third quarter. Meanwhile, the USD was subject to increased buying pressure, causing the USD/JPY pair to increase in value.

The currency pairs value continued to trade along the upper range, with the pair testing the 108.00 range, where it remained until the end of the London trading session. The New York session saw the USD/JPY break through its previous level and buyers were able to extend profits beyond the 108.00 region.

The USD/JPYs 4-hour chart shows the pair going well beyond its current moving averages, while the pairs 50, 100, and 200 EMAs showed a significant increase in value. Resistance levels for the USD/JPY is currently at 108.50, while support levels are expected to be at 108.00.

The pairs technical indicators are all situated at the positive region. The USD will have to go beyond 108.00 in order to maintain the pairs bullish stance and to keep the pair going up to 108.50. Sellers are also expected to make a comeback in the market, with the 106.50 as their primary aim for the USD/JPY.

EUR/GBP Technical Analysis: November 15, 2016

The EUR/GBP pair lost its sellers below the 0.86 region for the third consecutive session, maintaining the currency pairs stance over the key levels in the light of a highly active economic calendar.

The market is expecting the release of Germanys GDP report for the third quarter of 2016. The CPI data for the UK is also expected to exhibit an increased cost of living for the nation at 1.1% for October. The GDP report for the European Union is also expected to get significant attention from market players as it gets released later in the session.

The increased activity in the economic calendar could lead to an increase in stock market activity, which will then have a significant impact on the demand for EUR. The EUR/GBP is currently trading at the 0.8610 range, and incessant bounces from the 0.86 handle could possibly cause the pair to break through the handle and could lead the pair to trade at 0.8652 points and 0.85.

On the positive territory, if the pair manages to go above its 100-DMA of 0.8628 then this could cause the pair to go over 0.8664 and possibly even reach its zero figure of 0.8700.

EUR/USD Technical Analysis: November 15, 2016


The euro move back on its eleven-month lows throughout the mixed options of Eurozone data releases which lies in the red due to the victory of Donald Trump in the recent U.S elections.

The euro break a lower opening when the price plunged from the 1.0850 region to 1.0830 yesterday. The common currency was unable to fill the gap it created since it moved in a downward position and traded in a short-term lower trend line. The pair were blocked at 1.0800 level and slowed down amid Asian session.

Subsequent to the consolidation period, the EURUSD were able to push the level and manage its losses within the 1.0750 level. Sellers merely testing the level and locked in a daily low of 1.0727 in the post-EU open. The EUR curtailed after breaking the aforesaid level.

The price is trading below the moving averages as indicated in the 4-hour chart. Moving averages (50, 100 and 200 EMAs) are in a downward direction. Resistance is situated at 1.0750, support is seen at 1.0700. The technical indicators have gauged that the pair settled in the oversold situation and occupied the negative levels. The MACD histogram weakened and confirmed strength for the sellers. The RSI indicator approaches the overvalued zone which favors an advance move lower.

It is recommended for the pair to go back to the 1.0850 level in order to ease the downward pressure.

AUD/USD Fundamental Analysis: November 16, 2016

The AUD/USD pair exhibited increased volatility during Tuesdays session but ended the session on a higher range at 0.7559 points after increasing by +0.05% or 0.0004 points. Meanwhile, the NZD/USD closed down the previous trading session at 0.7099 after decreasing by -0.24% or 0.0017 points.

The Australian dollar received substantial support after the Reserve Bank of Australia released the minutes of its recently concluded policy meeting. The minutes of the RBA showed a balanced inflation risk, indicating a more stable monetary policy which is expected to go forward. The RBA has also showed a positive stance with regards to global growth. However, the market has to consider that the RBA meeting took place prior to the election of Donald Trump.

The Australian dollar broke sharply as the session closed due to the release of the US retail sales data which came out on a much positive note as compared to Octobers data. According to report, majority of households in the US purchased a wide range of goods, including motor vehicles. The retail sales report indicates that the US economy is sustaining enough growth which could increase the possibility of a Fed rate hike in December. However, the Federal Reserve has stated that it will be closely watching the regulation of the financial market as well as interest rates due to Trumps fiscal spending proposals. The Fed Vice Chairman has also stated that however risky the market liquidity is at present, the liquidity is just enough to sustain the movement of the global market.

AUD/USD Fundamental Analysis: November 16, 2016

The AUD/USD pair exhibited increased volatility during Tuesdays session but ended the session on a higher range at 0.7559 points after increasing by +0.05% or 0.0004 points. Meanwhile, the NZD/USD closed down the previous trading session at 0.7099 after decreasing by -0.24% or 0.0017 points.

The Australian dollar received substantial support after the Reserve Bank of Australia released the minutes of its recently concluded policy meeting. The minutes of the RBA showed a balanced inflation risk, indicating a more stable monetary policy which is expected to go forward. The RBA has also showed a positive stance with regards to global growth. However, the market has to consider that the RBA meeting took place prior to the election of Donald Trump.

The Australian dollar broke sharply as the session closed due to the release of the US retail sales data which came out on a much positive note as compared to Octobers data. According to report, majority of households in the US purchased a wide range of goods, including motor vehicles.

The retail sales report indicates that the US economy is sustaining enough growth which could increase the possibility of a Fed rate hike in December. However, the Federal Reserve has stated that it will be closely watching the regulation of the financial market as well as interest rates due to Trumps fiscal spending proposals. The Fed Vice Chairman has also stated that however risky the market liquidity is at present, the liquidity is just enough to sustain the movement of the global market.

GBP/USD Technical Analysis: November 16, 2016

The increase in the Producer Price Index of UK was not able to support the British pound, the pound further weakened consequently to the decline of the inflation figures in the Great Britain last month. The sterling kept intact in the pressured area and continued to have a gradual move downwards. The cable pair is trading in a tight range amid the Asian session and headed on the nether side before the EU opening. The price further plummeted which tested the 1.2400 level during the mid-EU hours.

The GBP/USD broke the 200-EMA, tested the 100-EMA, both activities lasted in the interim of the Euro hours. All moving averages exhibited a neutral stance seen in the 4-hour chart. The resistance is found at 1.2500, support is seen at 1.2400. The indicators move down in the positive zone. MACD grew less which confirmed weak position for the buyers. RSI descended which presented increasing strength for the sellers. Other forecasts said that bears will dominate the entire market for the following days.

GBP/USD Fundamental Analysis: November 17, 2016

The GBP/USD pair remains in the lower trading range even though it has managed to stay above 1.2400. Market players have long been speculating that the after-effects of the Brexit referendum will continue to have an influence on the sterling pound no matter how many times it would increase and its bulls will not be able to stay put. The GBP will have difficulty with regards to getting and maintaining a substantial bull stance since the Brexit process will be too risky for investors and traders for them to make long-term bets.

The currency pair has recently been trying to break through its rut, but any uptick by the sterling pound is always met with suspicion from investors and is always seen as a sell opportunity. The pair was somewhat able to increase by 200-300 pips during the past trading sessions but was incessantly pushed down by bears and has returned below 1.2500.

For todays trading session, investors are expecting the release of the UK retail sales data during the European session, with investors waiting whether this particular data release would be able to exceed initial expectations.

The CPI data from US and comments from Feds Janet Yellen is also expected to make its rounds today, and the GBP/USD could possibly benefit if Yellen confirms the occurrence of the Fed rate hike in December by going down to the 1.2300 region.

USD/JPY Fundamental Analysis: November 17, 2016

The USD/JPY pair was subject to extreme selling pressure after reaching 109.751, its highest level reached since June. This selling pressure caused a possibly bearish closing price for the currency pair, which opens the possibility of the currency pair taking a 2-3 day break. The USD/JPY could also revert back to its last rally at 105.465 points if the selling pressure becomes substantial enough. The USD/JPY closed down the previous session at 109.072 after decreasing by 0.109 points or -0.10%.

Market analysts are speculating that the increase in value of the Japanese yen was mainly due to the weakness of the DJIA and the S&P 500 indices, together with the carry trade buying. The USD might have also lost some of its value due to the ambiguity of the 10-Year US Treasury Notes and 30-Year US Treasury Bonds, as well as a slightly weaker US Producer Prices Index data release.

For the New York session, investors are expected to react on the release of the consumer inflation data, building permits data, jobless claims data, and housing data. Comments are also expected to be released from the President of the New York Fed as well as from the Fed governor. For Thursdays session, the USD/JPY pair could still be subject to a steadily increasing selling pressure if Janet Yellen says that US exports could be adversely affected by a strengthening in the value of the USD, therefore creating a negative environment for the US economy in general.

EUR/USD Fundamental Analysis: November 22, 2016

Both the bulls and the bears have been struggling to take control of the EUR/USD pair even though this particular currency pair exhibited little activity during the past trading sessions. However, the USD has once again extended its recent strength, indicating that other USD-related pairs could experience a temporary recovery before again going downwards, and the EUR might find it hard to extend its profits through the 1.0675 trading range.

However, there is a substantial option interest within the 1.0600-1.0659 region and this could lead to the currency pair consolidating between this particular range. The minutes of the FOMC meeting is set to be released on Wednesday, and this particular data is expected to confirm market speculations of a Fed rate hike this coming December. The market expectations for the rate hike is currently at 90%, and speeches and comments from a number of Fed officials including Janet Yellen seem to point towards a confirmation of this rate hike.

However, there is also a possibility that the Fed rate hike might not immediately translate to an added strength in the USD and could possibly weaken the currency if the Federal Reserve refuses to give hints regarding rate hikes for 2017. For todays trading session, there are no major economic releases expected today from the eurozone and the US, so the EUR/USD pair is expected to consolidate between 1.0600 and 1.0700.

EUR/USD Technical Analysis: November 24, 2016

The EUR lost some of its value as the US dollar continued its strengthening streak especially after the release of the minutes of the FOMC meeting, which indicated a heightened possibility of a Fed rate hike in December. The euro continued weakening during Wednesdays trading session but experienced a slight surge and tested at the 1.0650 during the Tokyo session. However, the EUR/USD pair experienced added downward pressure prior to the London session, where the pairs value declined towards 1.0600.

The EUR/USD pair has managed to break through its 50 and 100 EMAs in its 4-hour chart but encountered rejections immediately after going through its moving averages. The 50 EMA for the EUR/USD pair remains in the neutral territory, while the 200 and 100 EMAs were able to sustain its bearish stances within the trading session. Resistance levels for the EUR/USD pair is currently at 1.0600 points, while support levels are expected to appear at 1.0550.

The MACD indicators for the EUR/USD pair weakened, indicating a strengthening on the part of sellers. Meanwhile, its RSI indicators dropped as a result of the pairs decreasing movement. Bears will have control over the EUR/USD until it is able to sustain the 1.0650 level, which is also the current bearish target. If the pair manages to go beyond 1.0650, then this could induce an upward direction for the currency pair.

GBP/USD Fundamental Analysis: November 24, 2016
The sterling pound continues to be the sole currency that has survived the far-reaching effects of the USDs recent surges since the GBP has continuously inched higher against the US dollar even during the US elections. The GBP/USD pair consolidated and range for the majority of yesterdays sessions but the USD further increased during the opening of the New York session as economic releases from the US such as the Durable Goods data came out exceeding initial market expectations.
The GBP/USD pair initially plummeted towards 1.2350 points but recovered immediately and broke through 1.2400 and is currently resting just below the 1.2450 region. The GBP is currently on the strong side and should the USD exhibit weakness in the coming days, then the GBP/USD is expected to rise to 1.2600 and could possibly go higher.
The FOMC meeting minutes were released yesterday and has confirmed the possibility of a Fed rate hike this coming December especially since its members talked about the urgent need to increase interest rates as soon as possible. The minutes did not add much volatility to the market since it met initial market speculations. For todays trading session, there are no important economic releases expected from both the US and the UK, and the currency pair is expected to further consolidate with bullish biases enabling it to sustain its position over 1.2400. Market players are slowly regaining their confidence in the sterling pound, and is expected to further increase in the coming sessions.

NZD/USD Technical Analysis: November 24, 2016

The New Zealand currency appeared to be sluggish compared to its American counterpart. The greenbacks moved higher on the back of the latest data that indicated further strengthening of the United States economy.


The pair maintained a near-term bearish outlook. Sellers secured the 0.7100 region as it rejected prices downwards each time it tries to move on the upper side. Withdrawing from its daily high the kiwi had a downturn close to the 0.7050 region amid the post-European session on Wednesday.


The level run low towards the downward momentum shortly and it eventually breaks. The 50-EMA dropped the price as shown in the 4-hour chart. The moving averages is moving downbound. Resistance is found at 0.7050, support touched the 0.7000 level. The MACD histogram settled at the center point. If the indicator that enters the positive area, it implies improving the strength of the buyers. Contrarily, the negative territory will indicates sellers ability to handle the overall market.

RSI established within the neutral area. The NZD/USD is able to preserve a negative trend as long as it is placed down from the 0.71000. In case that the NZ currency jumped to 0.7050 the price is able to expand its gains reaching the 0.7100 region.

GBP/USD Fundamental Analysis: November 25, 2016

The GBP/USD pair continued its consolidation and has remarkably sustained its momentum in the face of the USDs constantly increasing value. Yesterdays session saw the USD surging even higher as the market speculations for a Fed rate hike increased by up to 100% and has also begun to look ahead for 2017 when it comes to the frequency of interest rate hikes from the Fed. However, since these rate hikes will be dependent on the incoming government, the fate of the US market is yet unsure especially since the market has yet to see how the Trump administration would be handling things in the future.

The UK Autumn statement was released during yesterdays session and has generally predicted a grim economic outlook for the UK for the next two years since this would be the period where the effects of Brexit would be largely felt by the economy. The growth forecast for the UK market was listed at 1.4% for 2017 and 1.7% for 2018 even though some market players are expecting the actual numbers to be much lower than expected.

The resilience of the GBP will be tested today since the UK GDP data is scheduled to be released during the European session and is expected to have a reading of 0.5%. Once the GDP data either exceeds or matches market expectations, then the GBP/USD could possibly break through 1.2500 and could easily test the 1.2600 region. However, if the data comes out on a much lower range, then the currency pair could drop to 1.2300 and could be subject to significant pressure from the market.

USD/CAD Technical Analysis: November 25, 2016
The USD/CAD made an attempt to extend its gains in order to move higher to the 1.37 level and when a reversal occurred, the channel will breakdown to a lower side. The pair further rebounded from the psychological 1.3500 area as shown in the 1-hour chart. Therefore, this event arise the possibility for retesting the 1.3400 level of support and the hope for the dollar bulls to reacquire their position and pushed for a breakout on top of the trading range. The SMAs prevented the bears from moving forward.

USD/JPY Technical Analysis: November 28, 2016
The USD has just clinched its highest trading range for eight straight months against the JPY after the US bond yields continued to surge during the Asian trading session after the US market holiday. The ascending trend for the currency pair continued, with the price of the pair extending beyond its upper limit at 114.00 points before inching lower. The downward direction of the pair caused it to lose momentum at the 113.00 trading range during the start of the London session and remained until the end of the session. The pairs 1-hour chart encountered its barrier at the 50 EMA, lending a strong support for the currency pair.
The moving averages for the currency pair maintained its bullish stance within its set timeframe. The pairs resistance levels are expected to be at 114.00, while its support levels are expected to be at 113.00. The MACD indicators for the currency pair weakened, indicating a decrease in buyer positions. Meanwhile, its RSI indicators have already left the overbought range.
The USD/JPY is expected to go beyond the upward channel if the pair would be able to go lower than 112.00. In order to diminish the effect of the present upward pressure, sellers will have to induce the pricing of the pair to go lower than 111.00. Or else a move towards 113.00 will cause a positive reaction and could trigger the pair to reach the 114.00 trading region.

EUR/USD Fundamental Analysis: November 29, 2016

The EUR/USD pair met market expectations and was able to increase under low market liquidity, with the buyers still in total control of the currency pair as of the moment. A lot of banks are also reportedly reversing their calls on the EUR, with majority of them now speculating that the euros value will increase in the short-term in spite of the scheduled Fed meeting in a few weeks.

ECBs Draghi made a speech yesterday which highlighted the banks monetary policy. However, Draghi failed to mention anything that was not already known by the market in general, and the markets reaction to his speech was somewhat muted and did not induce much volatility. The pricing of the EUR/USD pair increased by up to 1.0670 during the Tokyo trading session and dropped to 1.0565 as the USD rallied but the pair has since then managed to inch up beyond 1.0600 points.

For todays trading session, the market is not expecting any major economic data to be released from the eurozone. However, the US is scheduled to be releasing the Advanced GDP data and the market is expecting an increase in volatility once this particular information is released. The bullish stance of the pair is expected to continue for today, with trading limited to within the 1.0670-1.0570 region since the price of the pair could be dominated by currency flows. Although the euro has significantly dropped in value during the past sessions, its reversions are noticeably increasing in frequency and more buyers are expected to come in if the EUR/USD manages to sustain its place in the 1.0500-1.0600 trading range.

USD/JPY Technical Analysis: November 29, 2016
The USD further dropped in relation to the JPY due to ambiguities surrounding oncoming economic events such as the release of the Non-farm Payrolls data and the minutes of the OPEC meeting, prompting a lot of investors to clamp down on their deals. The pricing of the USD/JPY pair sustained its upward direction during Mondays trading session but remained within its lower levels and made small reversions during the Tokyo session. However, as the European session opened, the currency pair started speeding up its increase and ultimately reverted back to 113.00 just before the start of the New York session.
The hourly chart of the USD/JPY pair showed that its pricing was able to go beyond the 100 EMA during the middle of the London session and tested the 50 EMA towards the closing of the London session. The currency pairs 200 and 100 EMAs went up further while the 50 EMA slowly went towards the neutral territory in the same chart. The resistance levels for the USD/JPY is expected to be at 113.00, while its support levels are expected to be at 112.00.
The MACD indicators for the currency pair inched higher, indicating an added strength in buyer positions. Its RSI indicators also moved upwards. For this week, the USD/JPY is expected to make a comeback, with the first bull target slated to be at 113.00 points. If the pair manages to reach this level, then the pair could possibly extend its gains toward 114.00 points.

GBP/USD Technical Analysis: November 29, 2016

The British pound weakened in spite of the positive day for the EUR/GBP cross pair on Monday. The sterling made a reversal around the upper limit of its sideway trend yesterday. The price bear a sharp decline touching the 1.2400 region during the post-EU trades. The cable pair further tested the 1.2400 whereas the price had a downturn and struggled on the similar level before the opening session of New York.

The GBP were able to break the 50-EMA, the progression were blocked by the 100-EMA as indicated in the 4-hour chart. The moving averages established a neutral option as shown in the same time chart. Resistance touched the 1.2500 region, support is seen in the 1.2400 area. The MACD had a dip which means added strength for the sellers. RSI headed towards the oversold levels.

The tendency for the bearish sentiment to prevail would cause possible breakout within the 1.2400 area down to the 1.2300 mark.

GBP/USD Technical Analysis: November 30, 2016
The GBP increased in value during Tuesdays trading session after the release of the Mortgage Approvals data and Consumer Credit data, which both turned out to be highly positive. The sterling pound maintained its sideways trading during Tuesdays session, with the currency pair starting off from 1.2400 points and eventually surged prior to the opening of the European session. The pairs rally was somewhat limited by the upper range band of the 1.2500 region which put a stop to the bullish movement. The pricing of the GBP/USD went beyond the 50 and 100 EMAs and sustained this particular movement in the pairs 4-hour chart. The 50, 100, and 200 EMAs for the GBP/USD maintained its neutrality, while its resistance levels are expected to be at 1.2500 and support levels are expected to come in at 1.2400 points.
The MACD indicators for the GBP/USD is currently at the center of the chart, and if the histogram gets within the negative range, then this will mean an increase in seller strength. The RSI indicators for the currency pair remained neutral. The sterling pound is expected to remain in the short-term range. Resistance levels for the currency pair is at 1.2500 and could possibly rally towards 1.2600 if the pair retests its resistance levels. Support levels for the GBP/USD is expected to come in at 1.2300 if it goes beyond 1.2400 points.

USD/CAD Fundamental Analysis: December 2, 2016
The USD/CAD pair was finally subject to pressure during the previous session after the currency pair was able to go beyond the 1.3300-1.3400 trading region before settling just below the 1.3400 trading range. The currency pair has been consolidating with no definite direction since the strength of the CAD was perfectly offset by the USDs similar strength. However, the USD slightly dropped in value during yesterdays session as a result of the US dollars consistently bullish stance during the past few weeks. Meanwhile, the CAD continued to strengthen as crude oil prices surged after oil producers finally consented to cutting back on oil production, which will then cause oil prices to increase in the near future.
This particular piece of news was well-utilized by sellers of the USD/CAD, and the currency pairs lackluster closing price for November has helped bears to induce the currency pair to drop up to 1.3300. Since oil prices are expected to surge in the coming days, the USD/CAD is expected to further drop in value as well since the Canadian economy is hugely reliant on oil prices, and an increase in this particular commoditys price will have a positive effect on the national economy and will increase the value of the CAD as well.
For todays trading session, the Canadian Employment data as well as the NFP employment report from the US are expected to be released within the day, and traders will be closely monitoring this particular set of data since these are important determinants of the overall strength of both the US and Canadian economy. If the US economic data comes out as positive, then the currency pair will be consolidating on the lower trading regions. However, if the Canadian data turns out to be positive, then the USD/CAD pair could possibly test the 1.3200 region.

EUR/USD Fundamental Analysis: December 5, 2016

The EUR/USD crashed during the previous trading session after the Italian government voted No against the proposed constitutional reforms which led to the Italian Prime Minister resigning from his post. This has caused the Italian economy to experience major disturbances since the vote would translate into major policy reversals and could possibly lead to financial woes and could make a lot of investors lose their confidence in the eurozone currency.

These previous events has caused the EUR/USD pair to incur a widened gap, with the currency pair now testing solid support levels at 1.0550 points. Market players are now closely monitoring if the currency pair manages to sustain its hold in the current support region since a break beyond this level could lead to the pair possibly reaching 1.00 points. For this week, the ECB is expected to hold a meeting later within the week, and majority of market players are expecting Draghi to outline the QE program timeline whose conclusion is expected this coming March 2017. If Draghi refuses to have an extension of the QE program, then this could give the euro a much-needed boost. However for now, the market is mainly focused on the possible repercussions of the recently concluded Italian referendum.

For todays trading session, market players will be mostly focusing on the reaction of the European market on the results of the Italian referendum, since this will be a determinant on the euros next move especially since the outlook for the EUR was mostly positive until the results of the said referendum. There are no major economic releases expected from the eurozone for today, and the European market is expected to be subject to tension as the EUR/USD pair will be undergoing significant pressure for todays trading session.

GBP/USD Fundamental Analysis: December 6, 2016
The pound remains strong brought by the recent surge that conversely weakened the U.S. dollar. Traders attempting to reach between the 1.27 and 1.2750 range in todays session. This gives a positive outlook for the pair with U.S. yields declining and greenback remaining weak.
The published results of the Services PMI gave high numbers at 54.2, even more than the expected value of 55.2. This indicates the continuous growth of Britains economy despite leaving the European Union. Concerns regarding Brexit especially the negotiations about Article 50 is still pending on what will E.U. gain from U.K. and what will those Euro leaders offer in return. Britain sees the free market access will continue while Euro leaders are careful with the negotiations as it might be taken advantage by other countries. Once the data will be released since negotiations then the U.K. economy can be finalized.
There is no major news to be published from U.K. then, the current price trend will continue. Traders could move the rate towards the 1.2800 level if the greenback continues to depreciate. It is quite difficult to reach the 1.30 mark with the downtrend being strong. If the rebound ends, the price could further go down.