EUR/USD Threatens Yearly Low As Euro Worries Back In The Spotlight

EUR/USD TWO-HOUR PRICE CHART

(Click on image to enlarge)

eurusd eur/usd two hour price chart

Chart prepared by James Stanley

GBP/USD: BREXIT OPTIMISM BRINGS SUPPORT BOUNCE TO THE BRITISH POUND

The British Pound has enjoyed a strong month of November as the currency clawed-back losses from last month’s bearish run. In the first week of the new month, prices retraced 88.6% of the bearish move from last month, finding a bit of resistance at the 1.3174 area on the chart; and the past two days have produced a pullback to a key zone of support that I had looked at on Wednesday of this week.

GBP/USD TWO-HOUR PRICE CHART: SUPPORT AT 1.3000

(Click on image to enlarge)

gbpusd gbp/usd two hour price chart

Chart prepared by James Stanley

At this stage, prices have produced a fairly respectable hold of support around the 1.3000 psychological level, and this could keep the door open for bullish approaches as we move into next week. It is notable that Brexit dynamics appear to be quite optimistic at this point; and if the past two years of post-Brexit analysis has taught us anything, it’s that optimism can quickly turn as politics produces fracture. So this would likely remain a pensive situation that investors would want to continue to be careful around.

GBP/USD DAILY PRICE CHART: A JAGGED PAST FOUR MONTHS OF PRICE ACTION AS BREXIT MAKES WAVES

(Click on image to enlarge)

gbpusd gbp/usd daily price chart

Chart prepared by James Stanley

US DOLLAR RE-APPROACHES 97.00 – THIRD TIME THE CHARM?

The US Dollar has moved along with those risk trends, showing strength in October and pulling back in November as calm started to show. As I had looked at on Wednesday, prices in the Greenback had pulled back to a key trend-line that connects September and October swing-lows, and this helped to bring back strength into the currency with DXY now making a fast approach at the 97.00 level.

US DOLLAR FOUR-HOUR PRICE CHART: TREND-LINE BOUNCE EXTENDS THROUGH FOMC

(Click on image to enlarge)

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