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Fundamental Analysis
AceTraderFx: Intra-Day Market Moving News and Views
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[QUOTE="AceTRaderForex, post: 97429, member: 22847"] [B]AceTraderFx Feb 22: Intra-Day Market Moving News and Views GBP/USD [/B] [B]Intra-Day Market Moving News and Views 22 Feb 2016[/B] [I]06:02GMT[/I] GBP/USD - 1.4284.. Cable languishes near intra-day low of 1.4235 despite Fri's intra-day rally from New York low of 1.4247 to as high as 1.4411 neat the close as market optimism of Britain clinching a deal with the EU triggered broad-based buying of sterling. However, news came out in European afternoon on Sun that U.K.'s political heavyweight Boris Johnson surprised the market by giving his support for the 'Brexit' camp (see 01:15GMT update) triggered broad-based selling of the pound at NZ open, cable tanked from 1.4360 (vs Fri's close of 1.4405) to 1.4235. Despite a minor short-covering recovery to 1.4307, price retreated n swung inside a 1.4258-1.4603 range. Cable is expected to trade above 1.4235 until European open as market awaits reaction from London traders after the surprise news of Jonhson's decision to move to the "Brexit" camp. [/QUOTE]
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