GBP / USD climbed over 1.28 from Thursday's lows at 1.2720 after dropping by 3 figures. Opponents of Prime Minister May and her draft Brexit agreement have not yet collected 48 votes for the motion of censure. The rest of the currency market remains calm without a specific tone. The weakest is USD, and the leading ones are JPY and NOK, although the spread is small.

Initial optimism from the truce between the US and China raised Wall Street and the SP500 ended the day with an increase of 1.06%. But markets in Asia have already clashed with dementia and the nature of trade is ambiguous. In China, Shanghai Composite is growing 0.4%, but the Japanese Nikkei225 lost 0.57%.

On Friday, the 16th of November, the event calendar is light in important data releases, but the global investors should keep an eye on Wholesale Price Index data from Germany, Consumer Price Index data from the EU, Foreign Securities Purchases and Manufacturing Shipments data form Canada and Industrial Production data from the US. There are some speeches from ECB President Mario Draghi and ECB's Jens Weidmann scheduled for today as well.

EUR/USD analysis for 16/11/2018:

One of the American officials said that the chances of a breakthrough in the issue of trade during the next G20 meeting are unlikely. For now, it is too early to assess whether China's response to US demands will lead to the suspension of tariffs to be introduced in January. The proposals offered by China should be assessed with a great deal of skepticism.

The American Trade Representative Lighthizer stated that he did not mention to corporate managers that the next tranche of Chinese tariffs was halted. In the meantime, the first talks between the two largest economies in the world began. The financial media reached the sources of some concessions from China, but they have not been confirmed. There is a long way to go until the end of the trade war.

Let's then take a look at the EUR/USD technical picture at the H4 time frame. The market is still consolidating around the technical resistance zone between the levels of 1.1335 - 1.1359 as the bulls are trying to break out through it. The momentum is positive, but not that strong, so it might take a little more time to complete the move upward. In the case of a fruitfull breakout, the next target for bulls is seen at the level of 1.1432. On the other hand, the nearest technical support is seen at the level of 1.1301 and 1.1285.