- GBP/USD pushing back to 1.3000.
- EUR/USD bearish behavior still evident.
- Equity markets continue to rally.
British Pound Retracing Recent Losses
GBP/USD touched an intraday high of 1.2990 in early turnover and continues to claw back recent losses against a strong US dollar. The British Pound is advancing across a range of currencies, taking heart from yesterday’s better-than-expected UK Q4 GDP release. There are roadblocks ahead, but this week’s positive performance may suggest further gains on the horizon.
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Daily GBP/USD Price Chart (July 2019 – February 12, 2020)
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The Euro continues to fall against all majors after recent weak economic data highlighted the struggles that the ECB currently face in their effort to reboot the Euro-Zone economy. EUR/USD trades just above the 1.0910 mark while EUR/GBP is testing big figure support at 0.8400.
Equity Markets Continue to Move Ever Higher
Cryptocurrencies on a Roll
The substantial gains seen in the cryptocurrency market made this year may have gone unnoticed by some, but upside momentum seems to be building. Some of the major coins/tokens are now up 100% in 2020 and are looking to move higher as their charts turn from neutral to positive.
For a full rundown of all market moving economic data and events see the DailyFX Calendar
What is your market view – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact via Twitter @nickcawley1.