GBP/USD Calm Before a Storm, EUR/USD Eyes Resistance

MARKET DEVELOPMENT – GBP/USD Calm Before a Storm, EUR/USD Eyes Resistance

DailyFX 2019 FX Trading Forecasts

GBP: The Pound has begun a week on a front feet with a banking paring Friday’s NFP led decline. This came after weekend opinion polls continued to uncover a sizeable lead for a Tories trimming from an 8-15ppt lead. While UK information in a form of GDP is due to be expelled tomorrow, many of a concentration will sojourn on Thursday’s UK election, that will beget a many sensitivity for a Pound.

FX sensitivity and risk reversals.

Source: DailyFX, Refinitiv

EUR: With equity markets starting a week on a soothing tone, protected breakwater currencies have been behaving improved this morning with a likes of a Euro circumference higher. In new weeks, it has turn increasingly apparent that a Euro is apropos an appealing appropriation banking and so in times of risk aversion, a Euro has been underpinned. Alongside this, German trade total had also astounded to a upside with exports rising 1.2% opposite expectations for a contraction of 0.3% and so adding to a account that a Eurozone economy might be starting to uncover signs of stabilising. On a technical front, near-term insurgency is situated during 1.1100.

Currency Performance.

Source: DailyFX, Refinitiv

Economic Calendar (9/12/19)

DailyFX Calendar.

Source: DailyFX,


  1. US Dollar Longs Extended, EUR/USD Sold Sharply, CAD Selling Reverses – COT Report” by Justin McQueen, Market Analyst
  2. Sterling (GBP) Analysis – GBP/USD Rally Continues on Latest Poll Boost” by Nick Cawley, Market Analyst
  3. Dow Jones, SP 500 Short-term Volatility Features Chart Pattern” by Paul Robinson, Currency Strategist

— Written by Justin McQueen, Market Analyst

To hit Justin, email him during

Follow Justin on Twitter @JMcQueenFX