Will the situation change for the British pound?
The reports that the UK and the EU reached a deal pushed the GBP up immediately.
The USD weakened on the non-manufacturing PMI
The massive selloff in the market spread to the USD. The figures of ISM non-manufacturing PMI fell to 53.7 points (vs. the forecast of 55.5). As a result, EUR/USD has risen to the 1.1205 level. Earlier, the Stochastic indicator formed bullish divergence with the price and signaled about the move to the upside. If the current resistance is broken, the next resistance will lie at 1.1228. After the breakout, pay attention to the levels above the crossover of 50- and 100-day SMA at 1.1253. If the USD gets stronger again, the pair will retest the 1.1060 level. The next support will lie at 1.1003.
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Will the situation change for the British pound?
The reports that the UK and the EU reached a deal pushed the GBP up immediately.
Market updates on October 17
The European Brexit Summit will gather the main attention today...
The aussie may move on a jobs data
Australia will publish the level of employment change and the unemployment rate at 3:30 MT on October 17.
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