Video

John J Hardy
Saxo Bank’s head of FX strategy John Hardy takes a closer look at trends and moves in today’s forex charts, including EURUSD, USDJPY, AUDUSD, and EURSEK.
Squawk / 28 February 2019 at 8:34 GMT
Founder, Owner, Director / Market Chartist
United Kingdom
Pound stays strong

In our report earlier this week on the Pound we highlighted a fundamental strengthening of the UK currency amid rumours that UK Prime Minister Theresa May was going to discuss with the Cabinet a possible delay to the UK’s date for leaving the EU (currently 29th March 2019).
Further developments have seen the likelihood of extending the leave date increase, therefore, making a no deal Brexit less likely, which is positive for Sterling.
Furthermore, the GBPUSD or Cable forex rate has pushed above significant technical resistance levels at 1.3218 and 1.3299, which sets risks for the Pounds and GBPUSD still higher, see more details below.

See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/pound-stays-strong/

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