Brexit is here and the slowdown begins. Our trade of the year can be expressed via GBPUSD.
Our view - Macro slowdown via Brexit impetus on UK economy will force BoE into dovish future monetary policy - Broader global contraction will keep the dollar bid supported - Technicals favouring broader sellside swing toward 1.25xx and 1.20xx buyside floor targets (+7.50% move) - Head & shoulders pattern topping off a key fibonacci retracement - Thin price control below 1.25x handle
We have added sellside exposure across both our macro and directional portfolios
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We look forward to continuing to provide market leading analysis to traders & investors alike across the TradingView platform.
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Until next time,
Portier Capital Macro Strategy & Portfolio Management