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Market News Topics
May 01, 2019 06:28 GMT
Sterling outperformed yesterday............>
STERLING
STERLING: Sterling outperformed yesterday underpinned by positive Brexit
headlines and month-end dollar sales. GBPUSD rallied through its 100 & 200-dma's
to comfortably close above the $1.30 level. Rate currently challenges the
$1.3045/50 area, which has so far proved hard to overcome.
- Next resistance is seen at $1.3067/92 which represents the Apr 17 high &
55-dma.
- EURGBP's 55-dma finally gave way on a closing basis yesterday, touching
pullback lows of Gbp0.8590. The Apr 5 low & 61.8% retracement level provide the
next area of support at Gbp0.8557/54.
- GBPJPY cleared its 200-dma with the rally squeezing through Y145.00. Rate
extends to Y145.51 with next resistance from the Apr 23 high at Y145.63, ahead
of the 61.8% fibo of Y147.01-143.78 at Y145.78.
- UK PMI mfg the main highlight today at 0830GMT. Analysts are expecting a weak
reading with Brexit stock-piling said to be put on hold and weigh on production
levels.
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