GBP/USD retreats towards 1.2000 as DUP eyes to ‘test’ Brexit deal’s practicality – by anilpanchal7 GBPUSD Brexit Fed RiskAppetite BOE
bets despite mixed US data amid an unimpressive day so far. Adding strength to the US Dollar’s rebound could be the recent pick-up in yields.improves on headlines suggesting the fact that the US offers an olive branch to Chinese companies despite its political differences with the dragon nation.
While portraying the mood, , the S&P 500 Futures print mild gains around 3,995, extending the week-start rebound from the monthly low, whereas the US two-year Treasury yields remain sidelined near 4.79% after reversing from a three-month high on Monday. That said, the US 10-year Treasury bond coupons seek clear directions near 3.92% following a downbeat start of the week.
Moving on, US Conference Board’s Consumer Confidence, Chicago Purchasing Managers’ Index and Richmond Fed Manufacturing Index for February, as well as the preliminary US trade numbers for January, will decorate the and will be important for the pair traders to watch. Though, major attention should be given to the Brexit developments as the newly agreed deal heads to the British Parliament for approval.A clear downside break of the two-week-old resistance-turned-support line near 1.2040 becomes necessary for the GBP/USD bears to retake control. Until then, the Cable bulls can keep poking a downward-sloping resistance line from February 02, close to 1.2110 by the press time.
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