Europe’s single currency concluded Tuesday mixed against the greenback, after failing to sustain gains north of November’s opening level at 1.1156. As evident from the H4 timeframe this morning, traders are left with a shooting star candlestick pattern , which could entice selling towards nearby trend line support, extended from the low 1.0981.
Sterling’s post-UK election faded after a fleeting expedition north of 1.34 vs. the buck Monday. Weighed by disappointing preliminary PMIs for December, particularly in the manufacturing sector, and reports UK PM Boris Johnson plans law change to block a further Brexit delay
GBP/USD bulls tightened their grip in recent sessions, strengthened on the back of Thursday’s UK General Election, culminating in a clear win for the Conservative Party.
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The polls have closed and election night is upon us. There are 650 seats in the House of Commons up for grabs, meaning the winning party needs 326 to claim a majority.
Europe’s shared currency pencilled in a reasonably solid performance against the buck Tuesday, adding more than 28 points, or 0.26%. Upbeat ZEW metrics for Germany, nevertheless, failed to excite traders.
