GBP/USD, FTSE 100 and GBP/NZD Outlooks

GBP/USD, GBP/NZD and FTSE 100 Costs, Charts and Evaluation:

• Pennant formation in cable continues to play out.
• FTSE 100 stays rangebound.
• GBPNZD above 2.00 and the 200-dma.

A quiet begin to the week with little in the best way to information markets. This week the financial calendar is quiet other than the resumption of EU/UK commerce on Tuesday, FOMC minutes on Wednesday and the most recent PMIs on Friday. For all market-moving information releases and occasions see the DailyFX Financial Calendar

GBP/USD stays underpinned and continues to type a primary bullish pennant sample. As we close to the apex of this formation, the probabilities of an upside breakout develop.

GBP/USD Every day Value Chart (December 2019 – August 17, 2020)

The FTSE 100 stays caught in a variety and can want an honest driver to interrupt both means. Immediately’s buying and selling vary is proscribed and the UK large board will wait to see if something comes out of the EU/UK commerce talks or if Sterling makes a transfer. Value motion stays both facet of each the 20- and 50-day shifting averages.

FTSE 100 Every day Value Chart (January – August 17, 2020)

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GBP/NZD continues to press increased and has now damaged and opened above the 200-day shifting common and the psychological 2.00 stage. If the 200-dma stays supportive, the pair will probably consolidate earlier than persevering with to edge increased.

GBP/NZD Every day Value Chart (January – August 17, 2020)

What’s your view on Sterling – bullish or bearish?? You possibly can tell us by way of the shape on the finish of this piece or you possibly can contact the writer by way of Twitter @nickcawley1.