SELL GBPNZD from resistance in Today’s EU Forex Trading
Resistance 1 - 2.00032
Resistance 2 - 2.01822 - 2.03225
Take Profit - 1.3994
Stop Loss - 2.05528
AUD and NZD are notably stronger to start the week as the overall positive risk tone and overnight Chinese data supports the antipodeans.
China's Caixin Manufacturing PMI for November improved to 51.8 versus consensus of 51.4 and a prior of 51.7. Alongside the positive data, Asia-Pacific indices are positive across the board with the Nikkei up 1.01%, the is up 0.89%, while the Hang Seng, CSI 300 and ASX 200 are up 0.45%, 0.19% and 0.24% respectively.
Elsewhere, GBP is weaker across the board following further mixed results from weekend polls with many continuing to signal a narrowing in the Conservative's lead.
The YouGov/Sunday Times poll saw the Conservative lead narrow to 9 points from 11 points while the Survation/Good Morning Britain poll narrowed to 9 points from 10 points, the Observer poll saw the Conservative lead narrow to 15 points from 19 points and the BMG poll saw the lead narrow to just 6 points compared to 13 points prior.
With antipodeans supported by overnight Chinese data and a more positive risk tone, and GBP pressured by the further narrowing in December 12th opinion polls, GBPAUD and GBPNZD hold a bearish bias for today's session Major FX option expiries for today's NY cut.
Resistance 2 - 2.01822 - 2.03225
Take Profit - 1.3994
Stop Loss - 2.05528
AUD and NZD are notably stronger to start the week as the overall positive risk tone and overnight Chinese data supports the antipodeans.
China's Caixin Manufacturing PMI for November improved to 51.8 versus consensus of 51.4 and a prior of 51.7. Alongside the positive data, Asia-Pacific indices are positive across the board with the Nikkei up 1.01%, the is up 0.89%, while the Hang Seng, CSI 300 and ASX 200 are up 0.45%, 0.19% and 0.24% respectively.
Elsewhere, GBP is weaker across the board following further mixed results from weekend polls with many continuing to signal a narrowing in the Conservative's lead.
The YouGov/Sunday Times poll saw the Conservative lead narrow to 9 points from 11 points while the Survation/Good Morning Britain poll narrowed to 9 points from 10 points, the Observer poll saw the Conservative lead narrow to 15 points from 19 points and the BMG poll saw the lead narrow to just 6 points compared to 13 points prior.
With antipodeans supported by overnight Chinese data and a more positive risk tone, and GBP pressured by the further narrowing in December 12th opinion polls, GBPAUD and GBPNZD hold a bearish bias for today's session Major FX option expiries for today's NY cut.
Trade closed manually:
Closed manually due to change of risk tone from Risk-On to Risk-Off. Trump said that he has 'no deadline' on China deal timing.
Look to sell AUD/CAD and buy CHF/JPY for today's EU session.
Look to sell AUD/CAD and buy CHF/JPY for today's EU session.