GBP/USD gaps higher on Brexit optimism

GBP/USD gaps higher on Brexit optimism

2020-12-14 • Updated

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Ichimoku Kinko Hyo

GBP/JPY: The pair is trading above the cloud. Further bullish pressure will lead the currency pair to retest the previous highs.

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Fibonacci Levels

 XAG/USD: Silver consolidates above 38.2% retracement area since Friday. There is indecision between bulls and bears.

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European Market View

 European stock markets are seen opening mixed Monday, with investors adopting a cautiously optimistic stance after Brexit negotiations were extended past the Sunday deadline. Asian equity markets began the week with a mild positive bias and US equity futures were also underpinned following constructive headlines over the weekend. Looking ahead, highlights include US Electoral College Voting, OPEC MOMR, ECB's Panetta, Schnabel. Elsewhere, the U.S. Food and Drug Administration granted authorization of the Pfizer/BioNTech Covid-19 vaccine late last week. The U.S. will see its first deliveries of the drug starting this week. 

There is also the possibility of additional fiscal stimulus in the U.S. with a bipartisan bill for a $908 billion Covid-19 relief package set to be introduced in Congress later in the day. 

EU Key Point

  • US lawmakers set to unveil two-part relief plan
  • EU's Barnier on Brexit supports that two conditions remain unresolved
  • US COVID Deaths rise by 1391 on Sunday to 299,489

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