• Markets steadier as we head into a new week

    Holidays are officially over, traders and robots are fully cranked up now but the uncertainty continues as Brexit, US government shutdown et al remain on the fragile landscape.

    GBPUSD has been up to 1.2755 helped by some GBPJPY demand again and still remains underpinned for the moment but nothing of real note. I remain GBP bearish overall and happy to jump on rallies still. The Brexit "meaningful vote" is scheduled for next week but parliament will be debating it from Wednesday so be prepared for some soundbites.EURGBP has retreated further to test 0.8950 support lines (GBPEUR up to 1.1180) but rallying again to 0.8984 (GBPEUR down to 1.1125) as I type as a few GBP sellers re-appear.

    EURUSD continues to find dip demand to rally further and post 1.1440 while USDJPY has recovered some poise after last week's flash crash to post 108.70 before running into fresh sellers as risk sentiment turns a little soggier as Europe gets underway.

    USDCHF is also retreating but still finding some degree of support from EURCHF dip demand above 1.1200 with the SNB seemingly ever-watchful as I've been warning. AUDUSD continues to move higher still helped by some AUDJPY and gold demand after the flash crash fall while USDCAD has retreated again as oil prices firm up and USD supply generally returns.

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

    Have a good week out there one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.40 GMT

    GBPUSD 1.2726

    EURUSD 1.1429

    EURGBP 0.8981

    GBPEUR 1.1132

    USDJPY 108.22

    EURJPY 123.68

    GBPJPY 137.69

    AUDUSD 0.7136

    EURCHF 1.1248

    USDCAD 1.3359

    USDCHF 0.9841

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