FX Breakout Monitor: GBPUSD and EURUSD teasing breakouts lower

We also note the AUDNZD attempt higher into interesting levels locally around 1.0450, although the longer term picture will require a bit more from the pair to mark a larger breakout. In EM, note that while many EM currencies have taken some heart from the strength in risk appetite, USDTRY is having a look at breakout levels to the upside once again and USDSGD has been ripping higher after Singapore’s monetary authority suggested it would allow a weakening outside the normal band.

Today’s Breakout Highlight: GBPUSD
GBPUSD is trading heavily below the 19-day low close today, although the nominal intraday levels of note are  bit lower at 1.2941 and 1.2905. If the pair pushes through these levels we could be looking toward the 200-day moving average next as the market feels ill-prepared for the long wait for the trade deal with the EU to take shape – actually the key hurdle for improving business sentiment, more than the December election result.