EURGBP is reaching demand zone. Sellers are in profit. In 4 hours Theresa May is bringing out news about Brexit negotitations. The price might be manipulated by sellers. Watch out for the speech and then make the trading decision.
Sell the rumor, Buy the facts. Its what I am seeing. Until brexit is officially cancelled, GBP will always be negative as I do not see Theresa May walking away from not putting No deal on the table as it will affect her parties standing in the future which is something she wont accept.
Michalangelo
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@Jamal92 first of all, thank you for your reply, I am always glad to have trading discussions. And you're 100% right. The facts are that the price is reaching demand zone. And as you said, GBP will always be negative until Brexit will be officialy cancelled. The problem is, you never know how will the news affect the market. Sellers are currently winning the game and it shouldn't last for a long time.
Jamal92
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@Michalangelo, I am just being patient now. Small lot size and checking out what Theresa is saying . If she delays it that will not really do anything to strenghten the pound as the price is somewhat priced to that sort of news coming. My bias is long just need to ride the waves of the news. Good luck mate!