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20 Jun 2016

GBP/USD focused on 1.4665 – UOB

The research team at UOB Group argued the pair needs to close above 1.4665 in order to allow for further gains towards 1.4770.

Key Quotes

“The bearish phase that started early last week ended abruptly as GBP rocketed higher last Friday and took out the 1.4330 stop-loss”.

“While the current rebound could extend further to 1.4665, only a daily closing above this level would increase the odds for a break above last month 1.4770 high”.

“In the meanwhile, we prefer to hold a neutral view even though the bias is clearly on the upside as long as the support at 1.4365 is intact”.

“Looking further into Brexit end of this week, volatility is expected to remain elevated and it may be more prudent to focus on the shorter-term move”.

Jun 20, 2016

European stocks through the roof as ‘Brexit’ odds wane

The only catalyst behind the surge in the European equities at the beginning of a new week this Monday remains the votes back in favour of the ‘Remain

ECB's Makuch: Brexit could lead to political instability in EU

European Central Bank (ECB) Governing Council member and Slovakia's central bank chief, Jozef Makuch crossed the wires via Reuters earlier today, stat