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technical analysis

The US-China trade talks remain one of the key factors for the markets.

By Friday, equity markets closed lower as risk sentiment fell. China said that it was cutting the trade talks short, prompting President Trump to state that trade talks were not needed until 2020.

Meanwhile, rising tensions in the Middle East also kept the risk sentiment in check.

Sterling Eases From Intraday Highs on Brexit Optimism

The pound sterling advanced to a two-month high intraday on Friday before pulling back. The knee-jerk reaction came as traders repriced the Brexit talks. Remarks by EU President Jean-Claude Juncker about a quick Brexit deal before October 31st saw the markets reacting strongly. But a lack of any follow-through or supportive remarks from Brussels saw the GBPUSD easing back to close lower on the day.

GBPUSD Could Correct Lower

Following the rally to the resistance area of 1.2533 and 1.2511, the currency pair pushed lower. This saw prices falling out of the ascending wedge pattern. The n...

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