EUR/USD and GBP/USD lose directional focus amid Brexit uncertainty

EUR/USD and GBP/USD lose much of their directional conviction, with year-end Brexit uncertainty driving volatile consolidation.

​EUR/USD starting to fade once more

EUR/USD is starting to ease back once again after the partial recovery seen overnight. Set within a period of clear indecision, a break back below the $1.2152 mark could start to see further bearish short-term momentum.

However, with a wider uptrend in play, there is still a good chance we are looking at a retracement of the $1.2059-$1.2273 rally.

GBP/USD sees indecision dominate as Brexit deadline looms

GBP/USD has understandably seen a distinct lack of direction over the course of the past week, with the latest creation of higher lows and lower highs highlighting that indecision. With just over a week left until the Brexit deadline, we will soon find out whether a last-minute deal can be reached.

At this point, pretty much any deal would likely boost the pound. For now, the chart appears to be in wait-and-see mode, with a break below $1.3304 or above $1.3499 required to bring about a fresh directional breakout. ​

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