Day: July 20, 2020

July 20
2020

Sterling Rallies Despite the UK’s Deteriorating Relations With China

The Sterling pound today rallied higher against the much weaker US dollar after finding support at a critical support level that has held for the past two weeks. The GBP/USD currency pair seemed immune to the rising political tensions between the UK and China regarding the Hong Kong extradition treaty. The GBP/USD currency pair today rallied from a low of 1.2518 during the Asian session to a high of 1.2661 in the American market and was headed […]

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July 20
2020

Euro Holds Steady As EU Leaders Engage in ‘Mission Impossible’ Talks

The euro is trading at its best level against the US dollar since March as European Union (EU) leaders confirm they have made progress on stimulus and debt talks. The currency had been mainly unaffected by the central bank leaving interest rates and its quantitative easing efforts unchanged, but the fiscal policy could drive the euro for the remainder of the month. EU leaders have been holding a marathon meeting to iron out […]

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July 20
2020

Bulls Pushing the 0.7010 Resistance on AUD/USD

The Australian versus the US dollar currency pair seems to be determined to push higher. Is this a bullish sign, or its the bears preparing a good spot from where to start a new downwards leg? Long-term perspective The rally that started from the 0.5701 low extended to as high as 0.7064. From there, given the fact that the bears were delighted to see the previous high of 0.7019 revisited, it retraced under the intermediary level […]

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