Trade Idea (2020-10-15) GBP recovered1.30, rose 200 pips

Trade Idea

Good morning.

Yesterday’s US stocks continued to fall in major three indices.

GBPUSD was sold to 1.286 at European market after heavy depreciation of the previous day, but after that, buying strengthened, recovering milestone of 1.30, rising 200 pips to 1.306, and ending the US market around 1.301. Foreign exchange market is swaying around UK-EU trade talk headlines. Today is the deadline for negotiations set by Prime Minister Mr. Johnson, but it is a wait-and-see.

This morning AUD has fallen in a statement by Mr. Rowe, governor of RBA.

EURUSD H1 (Please click the chart to enlarge.)

GBPUSD H1 (Please click the chart to enlarge.)

Market Environment

Yesterday’s currency strength

US market yesterday

DJIA: 28,514 (-165.81, -0.58%)
NASDAQ: 11,768.73 (-95.17, -0.8%)
S&P 500: 3,488.67 (-23.26, -0.66%)
GOLD: 1,903.1 (-4.2)
OIL: 41.09 (+0.05)
US 10-YR: 0.722 (UNCH)
VIX: 26.4 (+0.33)

Asian market today

Nikkei: 23,534~ (-92)
CME Dow future: 28,387~( -127 Dow)

Economic indicators today

GMT 00:30 (AU) Unemployment rate
GMT 12:30 (US) New Jobless Claim