GBP/USD Is the Only Pair in Motion - Forex News by FX Leaders
GBP/USD is waiting before the next move in an hour

GBP/USD Is the Only Pair in Motion

Posted Friday, October 5, 2018 by
Skerdian Meta • 1 min read

The stock markets are sliding lower today as the hangover from yesterday continues. Comments from Italian politicians and EU officials turned the market sentiment negative yesterday and they are taking hits at each other today as well.

But the forex market has been motionless during the European session as we wait for the US employment report and, more importantly, the earnings report. They should get the forex market going when they get published ahead of the US session open.

But until then, we have to wait on the sidelines. Although, there is just one pair which has made a half decent move in the European session and that is GBP/USD. Reuters posted a piece regarding comments from an unnamed EU diplomat saying that the EU and Britain are very close to reaching a Brexit deal.

GBP/USD jumped higher as a result, but it stalled after climbing 50 pips higher. The market got excited for a moment, but GBP/USD stalled below the 200 SMA (purple) on the H1 chart. We have heard such comments about a Brexit deal being very close before, but the Irish border issue still remains so the market left it there.

Now, we wait for the US employment report to be released before seeing another move.

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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