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GBP/AUD Update... The Pound had another cascade of Brexit...

GBP/AUD Update... The Pound had another cascade of Brexit...

The Pound had another cascade of Brexit headlines, reports and updates to contend with, though ultimately the same no breakthrough status situation pending yet more negotiations on the proviso that UK PM Johnson agrees to an extension. Cable was more stable in early EU trade either side of 1.3000, but subsequently reversed through 1.2900 again before paring some declines and the Euro has pulled back below 1.1700 through expiries to a new m-t-d low circa 1.1690 irrespective of a wire citing ECB officials that believe there are strong reasons to hold off from delivering more stimulus, in contrast to some GC members that seem to be getting twitchy.

The Aussie was already reeling on the back of dovish ‘guidance’ from RBA Governor Lowe overnight, if not labour metrics that were only marginally better than feared, so the ensuing risk rout merely added to its woes as Aud/Usd lost grip of another big figure handle and got close to the next half round number below, at 0.7050.

For GBP/AUD we are edging higher and 1.8380 is now in sight with lots of opportunity to place stops in profit if any longs are active.

from Trading Ideas
via gqrds

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