Partner Center Find a Broker

There’s not much in the way of major releases from the U.K. this week. Can sterling pairs get some volatility elsewhere?

Low-tier U.K. economic data

  • U.K. final services PMI due Jan. 6, upgrade from 49.0 to 49.1 expected
  • Halifax HPI to post 0.6% uptick after earlier 1.0% gain
  • BRC retail sales monitor to post 0.5% dip after previous 4.9% slide

Brexit-related updates

  • Even though the general election results eased some Brexit uncertainty, pound traders are still keeping close tabs on potential challenges.
  • U.K. Prime Minister Johnson and EC President Von Der Leyen are scheduled to meet on Jan. 8 to discuss details of the transition deal.
  • PM Johnson has reiterated that he isn’t willing to extend the exit date past the end of this month.

Technical Snapshot

  • Moving averages show that sterling pairs are looking mixed but mostly leaning towards bearish territory.
GBP Moving Averages from MarketMilk
GBP Moving Averages from MarketMilk
  • Stochastic, however, reveals that GBP/CAD, GBP/CHF, and GBP/JPY are oversold.
GBP Stochastic from MarketMilk
GBP Stochastic from MarketMilk