While the single currency block continues to work together on Covid the UK is as divided as ever, from Scottish independence to the North / South divide. Faster Macro data has started to tick back down in Europe and the UK. We are going to see a decline in activity once more into November and with Brexit still to come this will hurt the UK more in the immediate term.
On the technical side, the break of 0.915x is encouraging for bulls and opens up in the near-term a test of 0.927x. I would also like to leave core positions running for the inevitable test of parity. Keep a close eye on 1.294x for those in GBPUSD .
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