The trade week ahead – EU summitsThe trade week ahead – EU summitsThe trade week ahead – EU summits

On the daily chart, the Cable is trading in a bear trend below the 200-day simple moving average (DSMA). GBP/USD is on fire as Irish PM Varadkar believes it’s possible to reach a deal before October 31st.GBP/USD is challenging the 1.2400 handle as GBP/USD spanned its entire current monthly range. A daily close above the current resistance at 1.2400 can lead to further strength towards the 1.2500 figure.The Sterling is trading above the main SMAs, suggesting bullish momentum in the near term. Support is seen at the 1.2360 and 1.2340 price levels. Forex Crunch is a site all about the foreign exchange market, which consists of news, opinions, daily and weekly forex analysis, technical analysis, tutorials, basics of the forex market, forex software posts, insights about the forex industry and whatever is related to Forex.Foreign exchange (Forex) trading carries a high level of risk and may not be suitable for all investors. The risk grows as the leverage is higher. Investment objectives, risk appetite and the trader’s level of experience should be carefully weighed before entering the Forex market. There is always a possibility of losing some or all of your initial investment / deposit, so you should not invest money which you cannot afford to lose. The high risk that is involved with currency trading must be known to you. Please ask for advice from an independent financial advisor before entering this market. Any comments made on Forex Crunch or on other sites that have received permission to republish Stock Global broker reviews the content originating on Forex Crunch reflect the opinions of the individual authors and do not necessarily represent the opinions of any of Forex Crunch’s authorized authors. Forex Crunch has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: Omissions and errors may occur. Any news, analysis, opinion, price quote or any other information contained on Forex Crunch and permitted re-published content should be taken as general market commentary. This is by no means investment advice. Forex Crunch will not accept liability for any damage, loss, including without limitation to, any profit or loss, which may either arise directly or indirectly from use of such information. .