Free Trial

GBP/USD has added 20 pips in the early part...>

CABLE
CABLE: GBP/USD has added 20 pips in the early part of today's Asia-Pac session
and last sits at $1.2910. 
- The rate jumped 86 pips Friday, with sterling finishing atop the G10 pile,
supported by a stronger than exp. UK retail sales print, amidst broader USD
weakness. 
- Worth mentioning that UK PM May called upon Tory MPs to unite over Brexit over
the weekend, in an attempt to strengthen her bargaining position before she
meets with EU leaders for further talks re: Brexit deal in the coming days. 
- Also worth mentioning France denied that President Macron has softened his
stance re: Brexit in order to break the current deadlock in negotiations with
the UK. 
- Bulls focus on the Feb 13 high of $1.2958, before attempting a move at the
21-DMA at $1.2986. Conversely, bears need a fall below the 100-DMA at $1.2875,
ahead of the 50-DMA, located at $1.2828. 
- UK highlights this week include domestic labour mkt data due Tuesday, as well
as any fresh developments re: Brexit.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.