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    DXY Technical Analysis – Wedge Break Happening

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Pound record gains versus Euro and Dollar following encouraging developments of Brexit negotiation

Ricardo Evangelista by Ricardo Evangelista
December 9, 2020
in Forex, Markets, Opinion
Reading Time: 1 min
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Pound record gains versus Euro and Dollar following encouraging developments of Brexit negotiation
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After several days of weakness, the Pound found support during the early part of Wednesday’s session, recording gains versus both the Euro and the Dollar following encouraging developments as the EU and the UK reach the final stretch of their protracted negotiations. The last few days have been a roller-coaster for sterling, as brinkmanship from both sides pushed investors into starting to price-in higher chances of no deal, driving losses for the British currency. Over the last 24 hours the scenario changed again and sterling recovered the week’s earlier losses, as the British removed the more controversial clauses from the UK Internal Market bill, a move seen by many as the waving of an olive branch to Brussels and the indication that London’s preferred scenario is still to avoid walking away from the negotiations empty-handed.

Tags: Brexit negotiationEUR/GBPGBP/USDPound
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Ricardo Evangelista

Ricardo Evangelista

Has undertaken a number of senior roles in his current employer including running the international desk, responsible for managing sales, customer services and marketing functions for a number of territories, as well as acting as a regular public speaker at events and contributor to TV and other media through interviews and market analysis. Since November 2016 he has been the Senior Executive Officer (SEO) of ActivTrades Dubai branch, having overall management responsibility of the branch. Prior to joining ActivTrades Ricardo worked in the IT and Financial industries.

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DXY Technical Analysis – Wedge Break Happening

DXY Technical Analysis – Wedge Break Happening

by Nathan Batchelor
August 12, 2022
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The US dollar index has started to move under a large wedge pattern threatening a technical meltdown after...

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