Richard Perry, Market Analyst at Hantec Markets presents his view on major currency pairs markets – GBP/USD, EUR/GBP, USD/JPY
Key quotes
GBP/USD – Stuck at 23.6% fib retracement of post Brexit sell-off. Looking weak despite falling political uncertainty as markets to focus back on economic woes – record high current account deficit, after effects of Brexit vote. BOE is likely to press the easing button.
EUR/GBP – Breached 23.6% Fibo and trading near 38.2%, BOE easing to push the pair to post Brexit high.
USD/JPY – The rebound from Friday’s low to near 105.00 levels is purely a short covering move. Bank of Japan likely to disappoint again, hence upticks could be met with fresh offers.