Forex - GBP/USD, EUR/GBP Flows: Brexit Secretary David Davis has called on both sides in the negotiations on the UK's departure from the European Union to "get down to business"


 04:28 (GMT) 17 Jul

  [Forex Flows]

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GBP/USD, EUR/GBP Flows: Brexit Secretary David Davis has called on both sides in the negotiations on the UK's departure from the European Union to "get down to business" (0100-QSPN-C01)

BBG: Brexit Secretary David Davis has called on both sides in the negotiations on the UK's departure from the European Union to "get down to business". He said his priority was to "lift the uncertainty" for EU citizens living in the UK and Britons living in the EU. The EU says there must be substantial progress on this - and on a financial settlement and the issue of the Irish border - before trade talks can begin. Mr Davis said: "We made a good start last month, and this week we'll be getting into the real substance."

GBPUSD was still seen hovering around overbought levels of 1.3100. One of the reasons the pair traded to a ten month high of 1.3113 last Friday was due to large sized stops being flushed out above technical resistance of 1.3050. Technically, next resistance is only seen at 1.3450, but obviously no one would expect prices to trade to that level in a hurry. The order book is now relatively empty on both sides, and much would depend on EURGBP gyrations. The cross was last seen at 0.8746, with strong support seen at 0.8710 - 20 levels.


Forex - EUR/USD, GBP/USD Flows: Back together in familiar territory


 08:01 (GMT) 14 Jul

 [Forex Flows]

They went their separate ways midweek but EUR/USD and Cable are back together again and look set to go into the weekend not too far away from where they ended last week. We still have US CPI and a rush of lesser US numbers to sit through, but we expect that it will take something well out of line to take us very far in either direction. A break above 1.15 still looks too much to ask for EUR/USD, while we expect there are plenty of offers in Cable towards 1.30.


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