• It's all looking a little uncertain out there

    Ongoing spats in the US-China trade talks, stand-off on Brexit, increasing tensions in the Middle East are just three scenarios playing out in financial markets right now and risk-off sentiment continues. It seems the only certainty is the increasing level of uncertainty.

    GBPUSD has held support between 1.2980-00 having failed around 1.3050 Once again another good rally-sell opportunity duly executed.EURGBP dip-buyers have been prevailing again but the pair remains tightly bound. GBPJPY failed above 143.00 and has duly retreated again to test the 142.50 bids on the renewed risk-off sentiment.

    I remain GBP bearish overall and continue to rally-sell as my preferred strategy and buy back in the dips amid all the global uncertainty/indecision including Brexit. Plenty more noise to come this week and the algos will continue to feed off the headlines.

    EURUSD remains underpinned and has once again tested 1.1250 before running into sellers once more while USDJPY failed at the 110.00 offers and pushed lower yet again on the risk-off Yen demand. USDCHF duly retreated in rapid fashion to test those 1.0080 support/bids as EURUSD remains underpinned and EURCHF finally broke lower amid sustained CHF risk-off demand but the SNB will be keeping a close eye again.

    AUDUSD offers at 0.7000 duly capped the rally with US-China trade concerns ever-present to feed the algos but is finding a little support around 0.6970 as I type. USDCAD has still been making its mind up and tightly bound after Friday's rapid drop from 1.3460 to below 1.3400 with CAD/JPY supply versus firmer oil price-led CAD demand.

    Fickle Forex markets ever prevailing so be ready with your entry/exit levels and orders as always.

    Have a good day/week out there one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.30

    GBPUSD 1.3005

    EURUSD 1.1229

    EURGBP 0.8636

    GBPEUR 1.1582

    GBPAUD 1.8657

    GBPCAD 1.7476

    USDJPY 109.65

    USDZAR 14.2772

    EURJPY 123.12

    GBPJPY 142.63

    GBPZAR 18.5636

    GBPHKD 10.0828

    AUDUSD 0.6972

    EURCHF 1.1343

    EURHKD 8.7056

    USDCAD 1.3436

    USDCHF 1.0101


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