Moves away from 100 day MA
The latest headline from a Sky source says an unnamed Tory centrist has sent PM May a vote of no-confidence letter.
Looking at the hourly chart of the GBPUSD, the price of the pair stalled right near the 100 day MA at 1.3085 area. That hold and subsequent headlines outlining the discontent within the ranks, sent the price tumbling lower. The low has now reached 1.2972. That is the lowest low since October 4. The low for the month of October comes in at 1.29206. That is the next key target for the pair.
On the move lower, the price has cracked below the 1.3023-30 area. That was a swing area going back to October 3rd, and the 1.3000 level. Those are risk levels for shorts.
PS EURGBP is also trading at session highs. It moved back above it's 200 day MA at 0.88315 today and moves closer to the 100 day MA at 0.8876 (high price reached 0.8856 so far). The 200 day MA stalled the rally on Friday. Today, the price initially tried to stall at the level before moving higher over the last few hours.
PSS UK 5 year gilt yield falls to the lowest level since September 13 at 1.077%. That is down -7 bps on the day.
