Hi guys! 👋🏻
UK PM Mr. Johson wants to protect the UK fish from the cruel French and Dutch trawlers and EU vessels in general. Trump said that he wants the stimulus bill talks to resume asap, and is now the steroid he is taking "dexamethasone" is questioned in relation to his shifting positions on stimulus bill. EU wants to keep the fishery deal as is, whereas the EU vessels can access the UK waters with no restrictions. UK leaders say - we want to protect our waters and our fishery.
World collapsed!)) Countries used to fight for oil, now we fight over fish. - Unneccesary comment, just thoughts outloud.
🔔 GBP showed significant strength on Friday amid new Brexit negotiation hopes.
Though the upcoming week will be a great test for both currencies as remarkable data will be published for UK - Unemployment change, for EU - ZEW Current Conditions and ZEW Economic Sentiment.
🔔 Another key role here is the EU-UK post-Brexit relations, if UK leaders are able to convince the EU leaders to accept the deal without postponing it again, the EU may weaken and continue to fall, if it's postponed than GBP will fall against major currencies on weak employment data. Asides the unemployment data, the upcoming 'hotspot' restrictions in the UK, which might eliminate small and medium businesses and result in a labor layoffs, could back the downfall of the Pound.
Another key note - As Euro is the second global currency, whenever the USD loses - Euro gains, if the stimulus bill is accepted - then here comes the 🚀 for the Euro.
🛠Now let's move to technicals:🛠
✔️ Pattern to watch here is the Wedge or a descending triangle - meaning trend continuation is expected anytime when there is a breakout.
✔️ Regular triangle pattern consists of a 5-wave move, since the 5 wave is not completed yet, EURGBP may drop towards levels close to $0.90250 support which is also Fibo 0.618 level, and retrace.
✔️ However, the pair is currently traded at an important and strong support and resistance zone, hence might bounce from here.
I highly recommend you to be very cautions next week, expecially on Thursday, October 15, during the EU Summit hours as these paris will be highly volatile.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
UK PM Mr. Johson wants to protect the UK fish from the cruel French and Dutch trawlers and EU vessels in general. Trump said that he wants the stimulus bill talks to resume asap, and is now the steroid he is taking "dexamethasone" is questioned in relation to his shifting positions on stimulus bill. EU wants to keep the fishery deal as is, whereas the EU vessels can access the UK waters with no restrictions. UK leaders say - we want to protect our waters and our fishery.
World collapsed!)) Countries used to fight for oil, now we fight over fish. - Unneccesary comment, just thoughts outloud.
🔔 GBP showed significant strength on Friday amid new Brexit negotiation hopes.
Though the upcoming week will be a great test for both currencies as remarkable data will be published for UK - Unemployment change, for EU - ZEW Current Conditions and ZEW Economic Sentiment.
🔔 Another key role here is the EU-UK post-Brexit relations, if UK leaders are able to convince the EU leaders to accept the deal without postponing it again, the EU may weaken and continue to fall, if it's postponed than GBP will fall against major currencies on weak employment data. Asides the unemployment data, the upcoming 'hotspot' restrictions in the UK, which might eliminate small and medium businesses and result in a labor layoffs, could back the downfall of the Pound.
Another key note - As Euro is the second global currency, whenever the USD loses - Euro gains, if the stimulus bill is accepted - then here comes the 🚀 for the Euro.
🛠Now let's move to technicals:🛠
✔️ Pattern to watch here is the Wedge or a descending triangle - meaning trend continuation is expected anytime when there is a breakout.
✔️ Regular triangle pattern consists of a 5-wave move, since the 5 wave is not completed yet, EURGBP may drop towards levels close to $0.90250 support which is also Fibo 0.618 level, and retrace.
✔️ However, the pair is currently traded at an important and strong support and resistance zone, hence might bounce from here.
I highly recommend you to be very cautions next week, expecially on Thursday, October 15, during the EU Summit hours as these paris will be highly volatile.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
Trade closed: target reached:
Nothing is true, everything is permitted.
_________________________________
🤖 I am one of the 11K TradingView users who trade on BingX - bingx.com/partner/Aziz
_________________________________
🤖 I am one of the 11K TradingView users who trade on BingX - bingx.com/partner/Aziz
