Sterling remains muted amid latest round of Brexit talks is about to end today.
Meanwhile US equities fell for a second-straight day as concerns grew that the worsening pandemic would halt business activity. Wall Street’s benchmark index dropped 0.3 per cent after rising earlier in the trading session, following a 1.9 per cent drop on Monday as corona virus case numbers in the US surged higher as mentioned in FT.
From the major’s front, Sterling remains muted despite risk-off sentiment. The Brexit discussion will last today and subsequently reports of progress is being made or not will guide the GBPpairs. However in numerous areas and it was reported at the start of the week that it is hoped a solution can be found and the shape of a deal can materialize by Saturday. We will maintain a neutral to positive stance in Sterling amid modest optimism in Brexit negotiations.
US Stocks close mixed
The US stock market finished session mixed on Tuesday, 27 October 2020, as renewed concerns around surging coronavirus cases and fading hope for a U.S. coronavirus stimulus before Election Day squared off with rallying tech stocks.
Market sentiment was dented by the rising number of new COVID-19 cases and an inability by lawmakers to push forward on new fiscal stimulus. Industrials giants.
TREND : WEAK BEARISH
Time : 28/10/2020
Pivot : 1.1795
Technical View : LONG ABOVE 1.1815
Target : 1.1835, 1.1871, 1.1896
Technical View : SHORT BELOW 1.1775
Target : 1.1755, 1.1736, 1.1721, 1.1676