On the major’s side, GBPUSD jumped almost 1 per cent amid improved sentiment to the outcome of Brexit trade negotiations, which are due to end this week with a Thursday post-negotiating briefing likely to be a highlight. Admittedly the ninth and final round of scheduled negotiations taking place, with news reports confirming the two sides remain optimistic that some kind of a deal will be struck by the time an important EU summit comes around in mid-October. However we still remains cautious about the unmoved in sterling and expects choppy move ahead of Thursday decision.
FX volatility has risen substantially ahead of first US Presidential debate starting in next 15 hours.
Meanwhile the first US Presidential debate is about to take place in next 15 hours. Expectations of volatility have risen across financial markets as investors brace for a messy outcome in the race between President Donald Trump and his Democratic rival Joe Biden. Recent flashes by New York Times about Trump’s non-payment of Taxes since longer duration prompted an additional edge to Biden’s candidacy. We are expecting roughshod volatility in coming days due to US election.
TREND : WEAK BULLISH
Time : 29/09/2020
Pivot : 1.2839
Technical View : LONG ABOVE 1.2823
Target : 1.2927, 1.3018, 1.3106
Technical View : SHORT BELOW 1.2791
Target : 1.2743, 1.2656, 1.2564