Once again, the Brexit Drama will once again attract the attention of the public at the start of the new week with a lot of fluctuations surrounding it.
In Brussels, European leaders will meet again to try to reach a decision on how long they will extend the Brexit deadline. Meanwhile, in London, Prime Minister Johnson will comment on an election to try to break parliamentary congestion from last week's votes on his Brexit deal.
What can we expect from the EU?
If no extension happens, the UK will leave without a deal this Thursday.
Of course everything became more obscure when France suggested that the extension be only one month until November 30.
However, the outcome is most likely to happen when European leaders have a little consensus in extending the deadline by another 3 months, to January 31, 2020.
That means if a Brexit agreement can be ratified ahead of time, the withdrawal will take effect earlier than January 31, 2020 - or with other milestones such as December 1, 2019 and January 1. January 2020 is also mentioned,
A warning likely to be applied in the extension is that the UK withdrawal agreement could be renegotiated again and there will be no extension.
And this story will repeat itself.
What can we expect from the UK?
With a Brexit without a deal still unanimous, there will be no chance from the Labor Party that will assist Johnson in pushing for an election today. As such, 2/3 of the vote and unanimity will continue to put things in limbo.
Even within the UK is also very confused.
What happens after that for the pound?
Uncertainty, uncertainty, and certainty are not certain
In this way, and based on this ambiguity, we can see that the British pound will fluctuate not too much, between 1.27 and 1.30.
The decline will begin to increase over time and if the situation continues, buyers become less confident with more uncertainty, and then a long-term discount cycle of the Pound may be expected. Brother.
Looking beyond the d1 frame, the price has completely broken down of the previous downtrend line, the price completely broke out. H4 is gradually forming parterns, showing an upcoming short-term correction decline of GBPUSD , h4 the triangle waiting for a break can see GBPUSD after a 900pip up trend for 4 consecutive weeks. The last week was a engufling tree that moved the price below the weekly + basic information provided some support. The GBPUSD price cut is coming soon. Please note there will be an election coming up so be aware. GBP is now sideway.
Sell GBPUSD 1.291x-1.292x SL 1.29600 TP 1.27500 Tp2 1.26288