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The pound is feeling the pull of the gravity on the downbeat Brexit comments, with GBP/USD trading flat at 1.3316, as of writing. The spot erased all the gains and hit a daily low of 1.3306. If there is no agreement on fisheries, the whole (Brexit) thing could fall on the back of it,” Irish Foreign Minister Simon Coveney warned on Monday. “Fisheries is a more difficult issue than level playing field.” “The UK attempting to separate fisheries from other issues.” “We are not going to play that game.” EUR/USD reached near three-month highs early Monday, with the safe-haven dollar extending recent losses on continued expectations for a swift global economic recovery on potential coronavirus vaccines. The pair rose to 1.1974 during the Asian trading hours, the highest level since Sept. 1, having charted a bullish outside week candle in the five days to Nov. 27. EUR/USD looks set to end the month with at least 2% gains. The shared currency has remained better bid throughout the month despite the rising coronavirus cases across Eurozone and economically-painful lockdown restrictions in Germany and France. The dollar drifted lower in early European trade Monday, as lingering vaccine optimism and expectations of more Federal Reserve largesse see traders desert this safe haven. The U.S. dollar index, which tracks the greenback against a basket of six other currencies, was down 0.1% at 91.705, having fallen to its lowest level since April 2018 and set to record its largest monthly fall since July, down 2.5%. USD/JPY fell 0.1% to 104.03.

GBP/USD’s path of least resistance appears to the upside. The spot charted a bull pennant on the 15-minutes chart. Bullish crossover and RSI add credence to the advance. EUR/USD is edging higher as the pair is currently hovering around 1.1930, up 0.15% on the day. Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, maintains a bullish outlook while the EUR/USD pair trades above the 1.18 level. The dollar weakened in early European trade Friday, set to post weekly losses with traders expecting large-scale stimulus from the new administration to combat the Covid-19 pandemic. The Dollar Index was down 0.1% at 91.892, near the three-month low since late Thursday. Volumes are likely to remain limited after Thursday’s Thanksgiving holiday in the U.S., with many traders set to enjoy a long weekend. USD/JPY fell 0.2% to 104.06. Additionally, AUD/USD rose 0.2% to 0.7372, near a three-month high, while NZD/USD gained 0.2% to 0.7021, near its strongest level in over two years.

GBP/USD rallied as high as the mid-1.3390s on Wednesday, but has since eased off back to close to 1.3380. The pair is eyeing a test of highs set on Monday at 1.3398, ahead of a test of the psychologically important 1.3400 level. The UK Finance Minister Rishi Sunak’s effort to tame the biggest budget deficit since world war two couldn’t disappoint the Cable buyers the previous day as the US dollar index (DXY) dropped to a fresh low since September 01. Not only the downbeat data but risk-on mood also negatively affected the greenback on Wednesday. EUR/USD renews three-month highs near 1.1940, benefiting from a broadly weaker US dollar amid dismal US economic releases. The spot is gaining 0.18% on the day. The EUR/USD 1.15-1.20 range resistance is at risk as hopes for 2021 recovery outweigh the grip of COVID-19 restrictions on the region and likelihood of the European Central Bank (ECB) Pandemic Emergency Purchase Programme (PEPP) and Targeted Longer-Term Refinancing Operations (TLTRO) easing, per Westpac.  “Last week’s block of the EC’s vaunted Recovery Fund, and its 7yr Budget, by Poland and Hungary may be seen as more of a frustration than risking any failure to implement the Fund and Budget. However, it places further pressure on ECB to enact larger-scale policy easing through its highlighted recalibration of their PEPP and TLTRO facilities. Guidance on the scale of recalibration will no doubt be provided into the Dec 10th ECB meeting.” The Dollar Index was down 0.1% at 91.892, falling to its lowest level in more than two months. Volumes are limited with the U.S. on holiday to celebrate Thanksgiving. USD/JPY fell 0.1% to 104.34. AUD/USD inched up to 0.73664, near its highest since September, while NZD/USD edged up to 0.70036, near its strongest level in over two years. Both currencies are considered guides to risk sentiment due to their close ties with the global commodities trade.

GBP/USD remains choppy inside a narrow trading range, currently around 1.3377, while heading into Wednesday’s London open. The pair traders mark indecisiveness amid a lack of major data/events as well as mixed clues for Brexit. Also challenging the pair’s move could be the cautious mood ahead of the UK’s Autumn Forecast Statement and US GDP, not to forget FOMC minutes. According to the UOB group, cable looks firm and could advance to the area past 1.3400 as long as it trades above 1.3200. EUR/USD is trading around 1.19 as the pair creeps ever closer to its range high at 1.1920/26. Above this level, the world’s most popular currency pair sees next resistance at the August high of 1.2014, analysts at Commerzbank apprise.  The dollar continued to weaken in early European trade Wednesday, with riskier currencies more in vogue as investors look to the new administration in the U.S. for additional stimulus amid solid progress towards Covid-19 vaccines. The Dollar Index, which tracks the greenback against a basket of six other currencies, was down 0.2% at 92.052.  USD/JPY was largely flat at 104.44. The greenback is also close to a two-month low against the Australian dollar and a two-year low against the New Zealand dollar, both considered barometers of risk sentiment due to their close ties with the global commodities trade. Risk appetite has improved after the outgoing President Donald Trump's administration began cooperating with the transition to a Joe Biden presidency, and after reports that former Federal Reserve head Janet Yellen, an advocate of bigger fiscal stimulus, is set to become Treasury Secretary.

GBP/USD prints mild gains above 1.3300, currently up 0.10% around 1.3300, while heading into Tuesday’s London open. GBP/USD is approaching a 13-year downtrend at 1.3422 where the cable is expected to fail and reverse back with support seen at 1.3004, per Commerzbank. Although key issues like fisheries, governance and competition remain unsolved, the Telegraph came out with the news, also conveyed by the Financial Times (FT), suggesting nearness to Brexit deal with interim plans that can be edited after several years. EUR/USD trades near 1.1850 versus 1.1833 in early Asia. Monday's price action shows indecision in the market place. A big beat on German IFO Expectations data is needed to force a bullish close. The dollar was down on Tuesday morning in Asia, with riskier currencies boosted by the news that U.S. President-elect Joe Biden is set to nominate Janet Yellen as the U.S. Secretary of the Treasury. The dollar index inched down 0.03% to 92.487 by 10:02 PM ET (2:02 AM GMT). The dollar saw its lowest level since Sep. 1 overnight, as clarity from November’s U.S. presidential election begins to emerge. The USD/JPY pair inched up 0.02% to 104.56 as Japanese markets reopened after national holiday on Monday. The safe-haven yen is slowing reversing a slip of around 0.6% seen during the previous session. Both Antipodean risk currencies benefitted from the increased risk appetite. The AUD/USD pair was up 0.25% to 0.7304 and the NZD/USD pair gained 0.65% to 0.6966. The USD/CNY pair edged down 0.11% to 6.5777.

GBP/USD rose 0.4% to 1.3329, helped by the AstraZeneca vaccine news. Addiitionally, U.K. Chancellor of the Exchequer Rishi Sunak said Sunday that he is optimistic that a Brexit trade agreement with the European Union will be reached soon. Still, even if the UK-EU trade deal is reached, “the lack of risk premia priced into GBP suggests only a limited upside,” said analysts at ING, in a research note. However, with politics and the U.K.-EU relationship uncertainty taking a less prominent role next year, this should allow GBP to benefit from the weak USD dynamics, sending GBP/USD above 1.40 in 2021. The pound was also edging higher against the euro, testing the five-month high it notched earlier this month. The upside momentum in Cable could extend to the 1.3360 area in the next weeks according to the UoB Group. The upbeat manufacturing PM partly offset concerns about the economic damage caused by the second wave of coronavirus infections in the region. This, in turn, remained supportive of a bid tone surrounding the EUR/USD pair, which was last seen trading with modest daily gains near the 1.1870 region. The Dollar Index was 0.2% at 92.248, just above the month’s low of 92.129. USD/JPY fell 0.1% to 103.81, while the risk sensitive AUD/USD rose 0.2% to 0.7317.

The UK retail sales came in at 1.2% over the month in October vs. 0% expected and 1.5% previous. The core retail sales, stripping the auto motor fuel sales, stood at 1.3% MoM vs. 0.1% expected and 1.6% previous. On an annualized basis, the UK retail sales jumped by 5.8% in October versus 4.2% expected and 4.7% prior while the core retail sales increased by 7.8% in the reported month versus 5.9% expectations and 6.4% previous. The GBP/USD pair held on to its modest intraday gains near the 1.3275-80 region and had a rather muted reaction to the latest UK macro data. It, however, remains to be seen if bulls can capitalize on the move or the GBP/USD pair struggles to move back above the 1.3300 mark as investors await Brexit-related updates. This makes it prudent to wait for some strong follow-through buying before traders start positioning for any further near-term appreciating move, possibly towards mid-1.3300s. EUR/USD extends the consolidative fashion on Friday as the pair once again prolongs the rangebound trade at the end of the week and always below the 1.19 mark, which has become a solid obstacle for any serious bullish attempt in past sessions. “Investors continue to look past the pandemic and favour the ‘glass half-full’ vision, always on the back of rising hopes of an effective vaccine in the short-term horizon, which at the same time reignite the idea of a ‘V’-shaped recovery in the euro area and the rest of the world.” The dollar edged higher in early European trade Friday, in tight ranges as traders digest a potential rift between U.S. Treasury Secretary Steven Mnuchin and the Federal Reserve. The dollar index was up 0.1% at 92.325, just above the month’s low of 92.129. The dollar has lost ground against riskier currencies for over a week as drug manufacturers continue to report progress towards a Covid-19 vaccine. USD/JPY rose 0.1% to 103.86, while the risk sensitive AUD/USD fell 0.1% to 0.7286.

GBP/USD fell sharply from above 1.3300 and was last seen trading around 1.3230, down -0.3% on the day. Initial support awaits at 1.2995 as Commerzbank expects the cable to fail in the 1.3310- 1.3422 band. Bloc members to push the European Commission for no-deal Brexit preparations, UK policymakers were hopeful earlier. Ascending triangle breakdown confirmed on the 4H chart. Bullish RSI points north keeping buyers hopeful. EUR/USD trades flat after Wednesday's marginal losses. France says EU leaders could move ahead with a budget without Hungary and Poland. The Eurozone needs fiscal aid to combat the second-wave of the coronavirus. The dollar nursed losses on Thursday following five sessions of declines as investors' longer-term optimism about COVID-19 vaccines ran in to worries about rising infections and risks to the fragile global economic recovery. Small gains against most majors lifted the greenback from Wednesday's eight-session low against a basket of currencies, but it remains near the month's trough of 92.129.

GBP/USD remained well supported by the latest Brexit optimism. Slightly better UK consumer inflation figures remained supportive. GBP/USD keeps gains around 1.3265 on the data release. The UK Consumer Prices Index (CPI) 12-month rate came in at +0.7% in October when compared to +0.5% booked in September while beating expectations of a +0.6% print, the UK Office for National Statistics (ONS) reported on Wednesday. A promising development in late-stage COVID-19 vaccine trials dented the greenback's relative safe-haven status. This, along with concerns about the economic fallout from new coronavirus restrictions in several US states kept the USD bulls on the defensive. EUR/USD has been shrugging off cautious words from central bankers and extending its gains. The pair is currently trading near 1.1868, representing marginal gains on the day, having put in a low of 1.1850 during the Asian session. Coronavirus headlines and speculation about the next stimulus boosts are eyed on Wednesday. A coronavirus vaccine is no game-changer for forecasts – the words of Christine Lagarde, President of the European Central Bank, poured some cold water on investor enthusiasm. The ECB already incorporated immunization from the virus in 2021 as part of its outlook and remains worried about the current spread of the disease. Jerome Powell, Chairman of the Federal Reserve, echoed her cautious words. Lagarde stated that additional stimulus is coming, while Powell only opened the door to a potential expansion. If the Fed proceeds with another boost, EUR/USD has room to rise. Final eurozone inflation figures for October will likely confirm the drop of 0.3% in the headline Consumer Price Index. US Building Permits and Housing Starts are eyed in the US on Wednesday. However, the focus is on the virus and central banks. The dollar edged lower in early European trade Wednesday, weighed by signs the surge in coronavirus vases is hitting the U.S. consumer while the country’s political scene remains divided. The dollar index was down 0.2% at 92.245. USD/JPY fell 0.3% to 103.91, while the risk sensitive AUD/USD rose 0.1% to 0.7304.

GBP/USD prints three-day winning streak despite easing off-late, trading at 1.3220. The pound could fall as much as 5% against the US dollar if the UK and European Union (EU) fail to reach a Brexit trade deal, the latest Bloomberg survey of nine strategists revealed on Tuesday. A two-week-old support line, currently near 1.3160, restricts the short-term downside of GBP/USD ahead of 1.3080/75 rest-area. Meanwhile, bullish MACD and sustained trading above 1.3100 favour buyers targeting to refresh the monthly top near 1.3315. EUR/USD keeps targeting the 1.1920 level. EUR popped to a high of 1.1868, upward momentum is beginning to improve and the bias for today is tilted to the upside. A move above 1.1880 would not be surprising but the major resistance at 1.1920 is unlikely to come under threat. All in, only a break of 1.1820 (minor support at 1.1840) would indicate the current mild upward pressure has eased. The dollar edged lower in early European trade Tuesday, as the surge in Covid-19 cases in the U.S. prompted more restrictions and as worries about a smooth transfer of presidential power mount. The Dollar Index was down 0.1% at 92.532. USD/JPY fell less than 0.1% to 104.54, while the risk sensitive AUD/USD fell 0.1% to 0.7313.