The JPY is the strongest and the NZD is the weakest. Jump in for the fresh analysis!
EUR/GBP: 'Double Top' led to the current decline
The last 'Double Top' pattern led to the current decline. Also, there's a 'V-Bottom', which hasn't been confirmed yet. Thus, it's likely that the market is going to test the nearest significant resistance at 0.8616 - 0.8653. If a pullback from these levels happens little later on, bears will probably try to reach another support at 0.8483 - 0.8449.
European shares fell on Monday as rising COVID-19 infection rates in Europe prompted renewed lockdown measures in some countries, casting doubt over the economic recovery, with a lack of U.S. stimulus also weighing on sentiment.
Asian equity markets were subdued, and US equity futures traded choppy after last Friday’s losses on Wall Street.
The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.
Bank of England Governor Andrew Bailey delivered a speech today. Let’s discuss what it means for a trader.
Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.