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Market Analysis: GBPUSD: Business : Nigerialog.com - Nigeria's Premier Online Forum (48 views)

Market Analysis: GBPUSD

By alagbe003 (M)June 13, 2018, 09:35:29 AM
The Greenback edged higher against the Cable in Yesterday’s session as the success recorded at the eagerly awaited summit in Singapore dominated sentiment. President Donald Trump and his North Korean Counterpart Kim Jong Un pledged to actualize the denuclearization of the Korean peninsula. The greenback was also boosted by the expected rate hike at this week’s Federal Reserve Meeting as the hike looked fully priced in.

Today, the instrument opened below the pivot and has successfully broken through a verified resistance level on the hourly chart ahead of the release of Consumer Price Index (CPI) from Britain by 9:30 am as well as Producer Price Index (PPI) from the US by 1:30 pm.
Brexit suffered a set back as the U.K. House of Commons voted 324 to 298 to reject any amendment to the Brexit bill. The instrument look poised for a decline (sell) as bearish sentiment garners further momentum


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