The British pound enjoyed a rally thanks to the rising prospects of a Brexit delay. What’s next? Here is their view, courtesy of eFXdata: Societe Generale Research discusses the tactical views for GBP/USD and EUR/USD in the near-term. “The wind is blowing in favor of a trade deal between the US and China, and in favor, at the moment, of the UK achieving a ‘soft Brexit’ which is probably mostly priced in for now. It’s also moving in favor of further action by the ECB in the form of another TLTRO at some point in the coming months. Though it must be clear to everyone except the most wooden-headed policy-maker that Europe’s illness needs fiscal, not monetary medicine,” SocGen notes. In practical terms, we expect we’ll see GBP continue to find support and the dollar remained on the back foot against most currencies, including NOK, SEK, and AUD, but perhaps not including the yen and euro for now. Friday’s Canadian GDP data gave the CAD a lick in the teeth, too. They were just plain awful. EUR/USD, of course, isn’t really going anywhere much,” SocGen adds. For lots more FX trades from major banks, sign up to eFXplus By signing up for eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next The 3 Dollar Drivers Yohay Elam 4 years The British pound enjoyed a rally thanks to the rising prospects of a Brexit delay. What's next? Here is their view, courtesy of eFXdata: Societe Generale Research discusses the tactical views for GBP/USD and EUR/USD in the near-term. "The wind is blowing in favor of a trade deal between the US and China, and in favor, at the moment, of the UK achieving a 'soft Brexit' which is probably mostly priced in for now. It's also moving in favor of further action by the ECB in the form of another TLTRO at some point in the coming months. Though it… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
